TVS Capital Funds, Premji Invest, and Binny Bansal’s 021 Capital led a $12 million Series B fundraising round for SaaS firm Increff.
The funding will be used by the Bengaluru-based business to open offices and enhance its staff in the United States and Europe, as well as to expand its product and service offerings.
Increff, a software-as-a-service company founded in 2016, provides a variety of industry-agnostic merchandising and smart warehousing solutions.
Currently, the company works out of India and the Middle East, with plans to expand to the United States and Europe.
Sequoia Capital sponsored a seed round of fundraising in 2017, raising Rs 13 crore (roughly $2 million). In 2019, it raised Rs 20 crore (about $3 million) from venture capital company 021 Capital and Binny Bansal, co-founder of Flipkart.