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Zoom's Eric Yuan, top Silicon Valley VC invest in retail-tech firm Arzooo

Funding amount not known; Arzooo is Yuan's first India investment. Bill Tai has 22 IPOs to his credit, was among first investors in Twitter, Zoom Video, Wish.com, Canva, and ColorGenomics

Topics
Zoom | venture capital | Investments in India

Peerzada Abrar  |  Bengaluru 

Eric Yuan, Zoom
Zoom meeting app’s founder and billionaire Eric Yuan

meeting app’s founder and billionaire Eric Yuan and Silicon Valley’s leading venture capitalist, Bill Tai have invested an undisclosed amount in retail-tech firm Arzooo.com. The Bengaluru-based firm will utilise the funds to scale technology, operations and quality of service. It operates in over 20 cities across the country. The start-up will also channelise funds to ramp its B2B platform, ‘Go Store’.”

Arzooo is Yuan’s first investment in India. Bill Tai has 22 IPOs to his credit and was among the very first investors in such as Twitter, Video, Wish.com, Canva, and ColorGenomics.

"Arzooo has proven its ability to create massive efficiency for operators across thousands of stores by leveraging data to create network effect efficiency in the supply chain, distribution, and logistics for their network of retailers,” said Bill Tai. “The result is better selection and pricing for customers throughout the system. This investment should fuel a 10X growth for Arzooo as it accelerates strongly."

Arzooo was founded by ex-Flipkart colleagues and IIT-Kharagpur alumni, Khushnud Khan and Rishi Raj Rathore in 2018. Since its inception, Arzooo has enabled over 5000 partner stores to grow sales and compete with bigger sellers and online marketplaces.

“Alongside the investment, Eric’s (Yuan) entrepreneurial journey and experience will be a great intellectual capital for us,” said Khushnud Khan, co-founder of Arzooo.com. “Bill (Tai) is known for identifying some of the best technology startups early on and backing them.”

Arzooo.com empowers physical retailers to compete and grow against e-commerce platforms like Amazon and Flipkart, with its technology platform. Its ‘Go Store’ is the unique technology platform that solves the big problem of selection; price and complex supply chain and sourcing for offline retailers. The company aims to serve 50,000 retailers in the next year through its expansion.

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First Published: Mon, November 16 2020. 19:35 IST
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