Evenflow raises $5 million in pre-series A from Village Global, 9Unicorns, others

By

Maverick Martins

Published
May 5, 2022

Evenflow Brands, a Bengaluru-based e-commerce rollup platform, has raised $5million (Rs 37 crore) in a pre-series A round from Village Global, 9Unicorns, Venture Catalysts, LetsVenture, and Shiprocket.

Angel investors such as Emil Michael, Vijay Shekhar Sharma, Kunal Shah, Nimesh Kampani, Sandeep Varaganti, Abhishek Nag, Sony Joy, MageHold, Moving Capital, MyAsiaVC and a few others also participated in the funding round.

Evenflow will use the funds to expand its team size, acquisition and enhance its tech, as well as its operations.

Commenting on the funding, Utsav Agarwal, co-founder and CEO at Evenflow in a statement said, “We have acquired seven brands and launched two private labels and managed to scale our brands steadily in the last 12 months. Our team is committed to scaling these small businesses into everyday brands. We feel very grateful for the interest we are getting from key partners in the ecosystem.”

Anne Dwane, Partner at Village Global added, “We loved the team at Evenflow and the way they are approaching the space in their unique way. We share their vision and the speed at which they have been building capabilities. We are thrilled to back the team and support them in their endeavour with our learnings and our network of LPs.”

Founded in 2021 by former Uber executives Agarwal and Pulkit Chhabra, the e-commerce roll-up has been on a buying spree and acquired seven brands over the past few months. It aims to develop over 20 Indian brands over the next 12-18 months.