Unicorn, Venture Catalyst, and StrongHer VC also participated in the round. According to a press release, Carlos Cashman (founder of Thrasio) and Rajan Navani (JetLine Group of Companies) also invested in their personal capacities.
Pulsar Capital, a growth stage investment fund founded by former TPG Managing Director Vish Narain, led a $15 million (Rs 123 crore) round of funding for Assiduus Global, an AI-powered cross-border and cross-marketplace e-commerce accelerator.
9Unicorn, Venture Catalyst, and StrongHer VC also participated in the round. According to a press release, Carlos Cashman (founder of Thrasio) and Rajan Navani (JetLine Group of Companies) also invested in their personal capacities.
Veda Corporate Advisors, a mid-market focused boutique investment firm, served as Assiduus Global’s financial adviser on the transaction.
Somdutta Singh, founder & chief executive officer at Assiduus.The firm is likely to utilize the capital for technology upgradation and for expansion across international markets like Europe and Southeast Asia.
Somdutta Singh, Founder & Chief Executive Officer, Assiduus, said, “As a global e-commerce accelerator, we have empowered countless brands to scale their operations across the fast-evolving e-commerce multiverse. We look forward to becoming one of the biggest disruptors in the sector by innovating new solutions and exploring uncharted geographies.”
Assiduus’s AI-powered technology helps brands with data intelligence and reporting and analysis competence, besides enabling the brands to overcome their regulation complications, language barriers and integration over multiple digital marketplaces. It assists brands to scale considerably across more than 12 marketplaces globally, including Amazon, Flipkart, Shopify, Noon, Walmart, eBay, Lazada, Nykaa, and many more.
According to its website, the company’s traditional clients include Cipla, Himalaya, and Prestige, and it has collaborated with numerous startups including Beardo, Power Gummies, and Strive.
Earlier this year, the company announced a partnership with roll-up e-commerce startup Evenflow, which operates similarly to US-based Thrasio, to bring their brands to the GCC and the US.
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