 "Reverse logistics provider Blubirch raises $ 2 mn")
Bengaluru-based reverse logistics firm Blubirch has raised $ 2 million in funding from Chicago Capital Ventures, angel investor Sanjay Mehta and others. Reverse logistics has been a pain point for e-commerce players, given the need to verify the authenticity of product returns from customers.
Blubirch focuses on fulfilling returns of electronicsproducts for e-commerce companies. The company, which began its operations in April 2014, has said that it will utilise the raised capital to expand its service to six more cities and strengthen its team. It will also explore expanding its service to other countries.
"We will continue focusing on bringing incremental value to our clients through our end to end reverse logistics solution and ensuring that we continue contributing to a clean digital India by extending the life of technology products," said Sapan Jain, CEO and Co-Founderof Blubirch, in a statement. Globally, the market for reverse logisticsis estimated to be worth $20 billion. Electronics, which are some of the bestselling products online, make up a big chunk of that.
"The sheer addressable market size makes Blubirch investment an attractive proposition," said Sanjay Mehta, angel investor. In terms of revenue, Blubirch expects to reach Rs 60 crore in revenue by early next year.
Blubirch focuses on fulfilling returns of electronicsproducts for e-commerce companies. The company, which began its operations in April 2014, has said that it will utilise the raised capital to expand its service to six more cities and strengthen its team. It will also explore expanding its service to other countries.
"We will continue focusing on bringing incremental value to our clients through our end to end reverse logistics solution and ensuring that we continue contributing to a clean digital India by extending the life of technology products," said Sapan Jain, CEO and Co-Founderof Blubirch, in a statement. Globally, the market for reverse logisticsis estimated to be worth $20 billion. Electronics, which are some of the bestselling products online, make up a big chunk of that.
"The sheer addressable market size makes Blubirch investment an attractive proposition," said Sanjay Mehta, angel investor. In terms of revenue, Blubirch expects to reach Rs 60 crore in revenue by early next year.