Angel investor Rajan Anandan, who also heads Google‘s Southeast Asia and India businesses, has invested an undisclosed amount in 500 Startups-backed Fulfil.IO.

Sharoon Thomas, co-founder and chief executive officer, Fulfil.IO, told DealStreetAsia that the funding was at the seed level but did not disclose the amount. The funds will be used for ramping up sales operations in the US and scaling the product further. The company is also in talks with various venture capital firms for next round of funding.

Founded by Prakash Pandey, Rituparna Panda, Tarun Bhardwaj and Sharoon Thomas, Fulfil.IO offers modern cloud based software for retailers to manage inventory and automate fulfillment operations.

Fulfil.IO was among the 15 startups chosen in investment firm 500 Startups’ accelerator programme, where it received $125,000 as initial investment. While the company is based in US, it also has a centre in Bengaluru where it houses a team that works on design, engineering and data analytics.

Anandan has emerged as the most prolific angel investor in the country. He primarily invests in early stage technology companies in sectors like internet, mobile and software. In the first six months of the year, he has already invested in around seven companies.

Apart from Fulfil.IO, his latest investments include Surfboats Solutions Pvt. Ltd, which operates an online discovery platform for premium lifestyle products and services called Smytten, and Unacademy, a start-up that offers free video courses. He has made a total of 90 investments in a span of 10 years.

Rajan is also the co-founder of Blue Ocean Ventures, the first seed fund in Sri Lanka. Blue Ocean started investing in 2012 and has many investments in the island nation.

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.