Evenflow Secures Bridge Round, Plans to Go Public by 2027 Evenflow's ongoing USD 5 million Series A funding aims to expand operations and enhance its portfolio of seven homegrown brands, positioning them for increased global presence through market expansion.
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E-commerce roll-up platform Evenflow has successfully raised an undisclosed amount in a bridge round, bolstered by investments from serial entrepreneur Shail Patel and several existing investors.
This funding is part of Evenflow's ongoing USD 5 million Series A round, aimed at expanding operations and enhancing its portfolio of seven homegrown brands: Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware. The company is poised to increase these brands' global presence by entering new markets.
Utsav Agarwal, CEO and Co-founder of Evenflow, explained, "Currently, we view ourselves more as a mutual fund than a high-growth stock. Our focus is on low-risk and stable returns rather than high-risk and volatile returns. This approach aligns with the preferences of our investors, including Shail Patel, who have shown confidence through their investment. We are excited to utilise this capital for our people and for growth, ultimately preparing for an IPO by the end of 2027."
The funding announcement comes shortly after Evenflow reinforced its leadership team with four key hires across various sectors, including supply chain and D2C. Additionally, Shashank Ranjan was promoted to co-founder, highlighting the company's commitment to building a robust internal structure since his arrival in 2022.
Founded in 2021, Evenflow has attracted support from notable investors such as 100Unicorns, Village Global, and Kunal Shah. The company aims to increase its revenue tenfold and profits sixfold by 2027 by scaling its business while maintaining a healthy bottom line.
With its brands currently active in India and the US, Evenflow has experienced impressive growth, achieving a 350% increase in sales through various online marketplaces including Amazon, Flipkart, CRED, Zepto, Instamart, and others.
Shail Patel, Director at Adjavis Venture Limited, said, "India is going through a massive shift in the adoption of challenger brands across categories. It presents a unique opportunity over the next decade to build everyday brands that turn into household names. Evenflow is capitalising on this very opportunity with positive unit economics, and hence I am excited to back them."
