IDG Ventures India and Accel Partners Invest US$3 Million in Bizongo (Asia)

Source: VCCircle  |  Author(s): Binu Paul

Venture capital firms IDG Ventures India and Accel Partners have made a US$3 million Series A investment in India-based Smartpaddle Technology, the owner of business-to-business packaging materials marketplace Bizongo. The company plans to use the funds to expand its seller base, build automation, improve its supply chain and strengthen its technology and operations teams. Accel is an existing shareholder in the company, having participated in its seed round in 2015.