Increff secures Rs 13 crore

BENGALURU: Fashion supply chain solution provider Increff, the brand registered under Next SCM Solutions, has raised $2 million (about Rs 13 crore) in a funding round led by Sequoia Capital.

Warehouse automation provider Grey Orange Robotics and a clutch of angels including, Rajesh Ramaiah of Premji Invest, Anshuman Das and Rishi Das, founders of CareerNet, and RedSeer director Jasbir Juneja also participated in the round.

The Bengaluru-based startup plans to utilise the funds to enhance its product offering, expand its customer base and hire for its technology team. Increff offers an end to-end supply chain management solution for the fashion industry.

The startup was founded in August 2016 by former Myntra executives, Rajul Jain, Nirmal Jain, Anshuman Agarwal and Romil Jain, who was previously with DevFactory and Computer Associates.

"The fashion industry, including brand houses, retailers and ecommerce players, is struggling to generate margins while they try to achieve a faster rate of moving inventory. INCREF's offering takes into account factors such as predicting demand on merchandising level and ensuring constant tracking of every item at warehouse level," said Rajul Jain, chief executive of the startup.

The startup has found a few initial customers including lingerie etailer Zivame and brand house Brandstudio.