Bizongo: Packing Innovation
It is very aptly said that quality is the pride of workmanship - with the changing times there have been an evolution of the business strategies and rightly so. In today’s scenario, the presentation of a product is just as important as it’s quality. This is the calling card line of a recent startup that has taken up the name ‘Bizongo’, an artful acronym for “Business-on-the-go”. A B2B e-commerce startup that provides a comprehensive technological platform for solving packaging design, procurement and development challenges, Bizongo specializes in supplying packaging material to medium and large size businesses. Offering simple, scalable and convenient products like ProcurePlus and DesignLabs, the technical prowess and agility of Bizongo have created a modular solution to give brands a better opportunity to sell and market their products. This has not only allowed small and medium scale enterprises (SMEs) to save cost in transportation and transcend geographical boundaries for their commerce, but also has generated a lot of transparency and ease through technology in supply chain optimization.
Despite being expedient for large business firms and brands, the startup also provides customized packing services for individual customers through online orders. Basically aiming to become a one-stop solution for all the business interactions between the buyer and his seller, the founders of this flourishing business are the alumni Sachin Agarwal and Aniket Deb, with IIT-Delhi graduate Ankit Tomar.
Being admitted to Chemical Engineering, IIT-Bombay in 2008, both Sachin and Aniket had the skills and good amount of experience in the ever-growing franchising and startup culture. They realized that packing is largely a customized business, that breeds a lot of inefficiencies in its process and has a lot of scope for improvement. Prior to launching Bizongo about two and a half years back, Aniket had worked as a big data analyst at Opera solutions and as a business intelligence officer at the real estate platform Housing.com. Meanwhile, Sachin worked as a risk analyst for the company Gravitas, managing hedge fund risk portfolios worth billions of dollars.
From assembling a team of 18 software engineers to creating a new design lab for their work, Bizongo has funneled its funding and resources adeptly to match its rapid growth. In order to leverage the $72 billion packing industry of the country, the startup raised a fresh round of funding of $22 million from distinguished investors like Accel, IDG ventures and B-capital (the venture capital firm of Facebook’s co-founder Eduardo Saverin), mounting its valuation to over $100 million in just 4 years since its inception. With Accel Partners being one of the earliest firms to show faith, Bizongo had received a net $3 million investment in 2016 and an undisclosed seed funding, placing its total capital raised in excess of $40 million to date.
The company further intends to disrupt the highly accelerating food delivery, e-commerce, and FMCG businesses in the near future and swell its revenue four to five folds over the next financial year, its current turnover clocking a mammoth 400 crore rupees annually. Lately, its employee base has also increased considerably to accommodate its aggressive expansion, being just shy of 1000. Using the fresh rounds of investments, Bizongo has now plans to enter the markets of the USA, the Middle East, and Southeast Asia, and establish its warehouses beyond the cities Mumbai, Bangalore and New Delhi. Its capital will also be spent to enlarge its operations in terms of its seller base, logistics, and technological requirements. Subsisting on razor-thin margins, and earning the confidence of more than 350 brands pan India, Bizongo services highly popular brands like Myntra, Mondelez, Xaomi, Swiggy, FirstCry, and Flipkart, with a promising 2-5 % reduction in their average costs.
With the agenda of sustainable and smart customizable designs rooted in the company’s motto, they are said to offer packaging solutions that are built to last and create minimal environmental impact throughout the product’s lifecycle, hence increasing their brand’s morale and earning a positive recognition by critics. In the same spirit, Bizongo worked on a project to improve the biodegradable landscape of India in correspondence with the Karnataka plastic ban imposed in 2017, receiving the 2018 Dieline Awards for the same.
Bizongo is additionally also working with other entrepreneurs and investors to expand their business through the franchise route. They have recently launched their mobile app to further enhance their availability to the local customers. With all the technical developments and experience, Bizongo believes that it can attract the major segment of the market. Even though, problems of packaging and logistics can be unnerving for any corporation, big or small, the creative and innovative supply chain solutions of Bizongo has not only generated a newfound trust in this space, but has also upscaled the commerce of the 350+ odd clients it has associated with. In collaboration with some of the most credible partners on-board for a startup of this nature, Bizongo is striving not just as an intermediate between buyers and sellers but also as an overall company. Due to their huge success in various sectors, it has set up an impelling example that every growing startup can look up to. We congratulate the team for their success and wish them luck for their future plans.