Alternative investment firm Evolvence India and Mirabilis Investment Trust, the family office of Infosys co-founder K Dinesh, have led a Series C round of funding in Emiza Supply Chain Services Pvt Ltd, a third-party logistics service provider.
Emiza said Monday the total size of the round is Rs 100 crore ($11.6 million) and that it involved a mix of primary infusion of capital and secondary transactions in an equal proportion. Venture capital firm Mayfield and individual investor Dileep Nath were the selling shareholders. The round valued the company at about Rs 400 crore.
Mumbai-based Emiza plans to use the capital to drive innovation, improve its warehouse technology through automation, and expand its footprint with new facilities, it said in a statement. It also plans to strengthen its management team and introduce tailored services for consumer and retail brands.
“India’s e-commerce sector is experiencing rapid transformation, driven by innovation in logistics and warehousing. Emiza has emerged as a key enabler in this ecosystem, delivering customised warehousing and fulfilment solutions,” said Evolvence managing partner Ajit Kumar and principal Deependra Singh Dhamu in the statement. “This investment underscores our confidence in their vision to expand their technology-powered, multi-tenant infrastructure.”
Emiza was founded in 2015 by Ajay Rao. Rao was previously president of business development at Allcargo Global Logistics Ltd. The company offers comprehensive third-party logistics services to direct-to-consumer (D2C) and business-to-business (B2B) brands to over 150 brands.
The company raised Series A funding of $4.5 million led by venture capital firm Mayfield in 2017. It raised its Series B funding round of Rs 37.5 crore ($4.8 million) in 2022 led by JM Financial Private Equity, the alternative investment arm of JM Financial Ltd.
“We have always aimed to bridge the logistics gap for brands by offering solutions that are agile, tech-driven, and tailored to their needs,” said Rao. “With this funding, we are poised to accelerate our mission of empowering consumer and retail brands, ensuring seamless operations across the supply chain while helping them focus on what they do best: building exceptional products and brands.”
Emiza closed last financial year with nearly Rs 99 crore in net sales, about 29% higher than the previous fiscal year. Its net profit, however, fell to about Rs 3.6 crore from Rs 6.9 crore previously.
