Evenflow, an e-commerce aggregator startup based in Mumbai, has successfully raised a bridge round, taking a major step toward its ambitious plan of going public by 2027. This latest round comes as a critical financial boost as the company looks to scale up its operations, acquire more third-party brands, and solidify its presence in the growing e-commerce space.
The Rise of Evenflow in the E-commerce Space
Founded in 2021 by former Uber executives Utsav Agarwal and Pulkit Chhabra, Evenflow specializes in acquiring and scaling small third-party sellers on e-commerce platforms such as Amazon. Similar to its U.S. counterpart Thrasio, Evenflow has rapidly grown by integrating operational expertise in areas such as marketing, supply chain, and channel expansion to help these sellers become category-defining brands. The startup focuses on sectors like home and kitchen, fitness, baby care, and pet care.
This latest bridge round, which featured participation from multiple investors, including early-stage investment firms such as Village Global, is part of a broader strategy to position Evenflow for long-term growth and scalability.
Aiming for IPO and Growth Beyond India
Evenflow is not just looking at the Indian market but has international ambitions. With e-commerce penetration in India still relatively low at 4.9%, there is significant potential for growth. Evenflow sees an opportunity in helping digital-first brands scale not only within India but also in international markets. According to industry estimates, the digital-first brand sector in India is expected to become a $100 billion opportunity over the next five years.
The funds raised in this bridge round will be used for team expansion, further acquisitions, and improving Evenflow’s technology infrastructure. The company’s co-founder Utsav Agarwal has expressed confidence in Evenflow’s future, stating that this investment will help strengthen its fundamentals, positioning the startup for exponential growth in the coming years.
Scaling Up Through Acquisitions
Evenflow’s business model focuses heavily on acquiring small but promising brands and turning them into larger players in their respective categories. Over the next 12-18 months, the company aims to expand its portfolio to include more than 50 brands. This strategy not only drives revenue growth but also increases the company’s attractiveness to potential investors as it prepares for an IPO.
With this bridge round completed, the company has laid a strong foundation for its growth trajectory, with an eye toward being a publicly listed company by 2027.
Source: This article is based on information from Entrackr, Indian Startup News, and Venture Intelligence.
Key Highlights:
- Evenflow raised a bridge round to accelerate growth and acquisitions.
- The startup is targeting a public listing by 2027.
- Focus areas include scaling e-commerce brands in sectors like home and kitchen, fitness, and baby care.
- Evenflow aims to expand its portfolio to over 50 brands within the next 18 months.
