Tech News

Binny Bansal, 021 Capital guess on supply-chain tech startup Increff

Venture capital company 021 Capital and Flipkart co-founder Binny Bansal have invested Rs 20 crore ($3 million) in Bengaluru-based totally Moncrieff, which offers supply-chain era answers to style manufacturers and stores.Binny Bansal, 021 Capital guess on supply-chain tech startup Increff 1
This is the Series A round of funding

g for Moncrieff, the startup stated in a statement.
Moncrieff operated via NextSCM Solutions Pvt. Ltd, will use the finances to enhance its product offerings and foray into worldwide markets.
Rajul Jain, CEO at Moncrieff, said the company is targeted on making deliver chains green via supporting clients make correct demand forecasting and presenting an unmarred view of inventory and warehousing operations.
Moncrieff was based in August 2016 by using former Myntra executives Rajul Jain, Nirmal Jain and Anshuman Agarwal, and previous NgPay govt Romil Jain.
It had raised Rs 13 crore ($2 million) in a seed round of funding led with the aid of Sequoia Capital in 2017.
The startup offers a supply-chain control platform that consists of verticals such as tech-led merchandising and pricing, design intelligence, fulfillment technology, and services. Besides, it helps in mobilizing running capital for stock financing to its customers and additionally presents centralized cataloging and listing offerings.
“Moncrieff is a terrific example of the form of technology-led, disrupting groups that we like to put money into,” said Binny Bansal, who is additionally one of the backers of 021 Capital.
The startup, whose capability shoppers includes fashion and lifestyle brands, e-commerce shops and warehouse operators, leverages large facts to optimize sales and stock efficiency.
The corporation counts organizations like warehousing automation undertaking Grey Orange, lingerie e-tailer Zivame, Aditya Birla Group-owned fashion e-tailer Above, Brand Studio Lifestyle Pvt. Ltd and Campus Sutra amongst its customers.
021 Capital
The mission capital fund became released two years ago through Sailesh Tulshan, the private funding adviser to the founders of homegrown e-commerce predominant Flipkart.
Gulshan is also the founder of Tsai Shen Capital, an investment advisory company for people and large family offices. He became earlier related to own family workplace Client Associates and private-region lender HDFC Bank.
021 Capital had formerly invested in Gurugram-primarily based legal-tech startup SpotDraft, Bengaluru-based totally biotech startup Pandorum Technologies and packaged food startup Y-Cook.

Reliance Industries Ltd is in talks to shop for British toy shop chain Hamleys, enterprise news website Moneycontrol mentioned on Wednesday mentioning a couple of resources, as the Indian conglomerate seeks to enlarge its footprint inside the patron space.
Reliance Retail, the retail arm of billionaire Mukesh Ambani-owned Reliance Industries, is “aggressively pursuing the deal”, the internet site quoted one of the resources as saying.
Due diligence is in superior degrees, the website mentioned, adding that if the deal went via, Reliance Retail deliberate to increase the geographic footprint of the 259-yr vintage toymaker in India to approximately 200 shops over the subsequent 3 years from round 50 currently.
Reliance Retail presently has the license to sell Hamley’s merchandise in India.
Sky News pronounced closing October that Chinese fashion store C. Banner International Holdings, which bought Hamleys for one hundred million pounds ($130.Fifty five million) in cash in 2015, becomes trying to promote it after logging heavy losses.
Reliance Industries, Hamleys and C.Banner did now not immediately respond to Reuters’ requests for comment.
Reliance Industries’ approach to diversify beyond refining and petrochemicals showed results final sector, while its rapid-growing telecom and retail businesses drove income to new highs regardless of its gross refining margins taking a success amid volatility in oil fees and slowing demand globally.
The organization’s retail commercial enterprise noticed revenue double to 356 billion rupees in the duration, at the same time as income earlier than interest and taxes extra than tripled to 15 billion rupees.

Johnny J. Hernandez
I write about new gadgets and technology. I love trying out new tech products. And if it's good enough, I'll review it here. I'm a techie. I've been writing since 2004. I started back in 2012.