The round was led by Pavestone, contributing $7.5 million, with additional participation from existing investor IndiaMart and several family offices.
The newly secured funding will be directed toward scaling Bizom’s technological innovations, refining delivery mechanisms, and expanding its key accounts.
Speaking to CNBC-TV18, Lalit Bhise, CEO of Bizom, emphasised the transformative vision for the FMCG (fast-moving consumer goods) sector, stating, “With this $12 million funding, we aim to revolutionise the route-to-market ecosystem in FMCG. This includes empowering field sales executives, retailers, and distributors to make smarter decisions by leveraging technologies like AI agents, augmented reality, and virtual reality.”
Bizom currently handles nearly 10% of India’s FMCG distribution. Bhise explained that with this funding, the company aims to enhance value for existing clients rather than merely acquiring new ones.
“Our goal is to help consumers access the right products at the right price and location while supporting FMCG companies in selling effectively,” he added.
According to Bhise, the pandemic catalysed digital transformation across industries, driving Bizom’s rapid growth.
“COVID pushed many of our brands into a digital transformation overdrive. Over the last three to four years, we’ve seen consistent growth of 50%–60% annually. We plan to sustain and even accelerate this momentum,” he stated.
Additionally, FortyTwo Labs—a startup specialising in cybersecurity and quantum computing, is aiming to achieve 100% year-on-year growth in the coming years. CNBC-TV18 spoke with Deepankur Agrawal, Co-Founder of FortyTwo Labs to discuss the road ahead for the company.
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