Blubirch, a SaaS and AI-based automation-driven reverse supply chain management platform, raises a total of $10.2 million to date, with a unique $6.37 million funding round.
The company is committed to transforming the reverse supply chain landscape for retailers, e-commerce businesses, brands, marketplaces, and OEMs.
Blubirch’s Returns Automation and Monetization Platform offers solutions for efficient management of various types of returns, including customer returns (online/offline), dealer returns, e-commerce returns, warranty claims, trade-in (exchange) returns, lease returns, and internal returns.
Blubirch was founded by three IT veterans — Sapan Jain, CEO, Blubirch[Former Head of IBM Global Financing – India/Asia Pacific]; Jeby Cherian,Chairman and Chief Operating Officer, Blubirch [Former Managing Partner, IBM Consulting – India/South Asia] and Amit Goel, Chief Business Officer and Head of International Expansion, Blubirch [Former Director, Technosoft Corporation].
Retailers and OEMs have been grappling with the rising volume and value of returns across their channels. It is estimated that inefficiencies in managing customer and warranty returns have a 25% impact on the operating margins for both retailers and OEMs. Blubirch’s solutions have helped retailers and OEMs automate the returns management process, improve transparency and compliance while helping them improve their operating margins by 300 basis points.
Blubirch’s solutions are rated as one of the top three solutions globally by analysts and currently they count India’s largest retailers and ecommerce companies among their clients.
The successful closure of this funding round is due to keen interest evinced by multiple institutional and venture capital investors who are driven by their primary investment philosophy and logic to invest in high tech, innovation-driven scalable enterprise SaaS platforms and businesses that have a strong client portfolio, steady and growing revenue pipelines, and proven leadership teams. The two strategic and principal investors leading this Series A round are Cornerstone Ventures[CSVP Fund] and Capital2B. The new market category created by Blubirch — Returns Automation Platform as a Service [RA–PaaS] has the potential to reach US$50 billion by FY29–30.
Abhishek Prasad, Managing Partner, Cornerstone Venture Partners Fund, said “We believe Blubirch is solving a fairly large and complex need in the market. It’s AI-led product enables marketplaces and OEMs’ decisions on disposition of reverse inventory and helps unlock millions in working capital. The product suite as a whole can supercharge the entire supply-chain for its customers, taking the value proposition beyond reverse automation! The company has come a long way and is working with quite a few marquee names in India, while having started establishing its global footprint in key markets such as Middle-East and SEA.”
“Returns and warranty management is a fairly complex, often ignored and underappreciated area. Blubirch management has deep domain understanding of this space and their platform can help retailers and OEMs deliver better customer experience and reduce working capital cycles,” said Amit Behl, Partner, Capital 2B.
This fundraise will help accelerate the company’s growth, deepen its market presence across various retailer marketplaces and OEM ecosystems, further consolidating its position as a leader in reverse supply chain solutions in India, as well as across MENA and the Indo-Pacific in the foreseeable future.
Sapan Jain, CEO, Blubirch, expressed his enthusiasm about these developments: “We are thrilled to have secured this significant round of funding, which will empower us to continue our mission of revolutionizing the reverse supply chain. The funds will be deployed towards enhancing product development, majorly increasing the acquisition of India-based talent, expanding regional operational capabilities, and accelerating market penetration. A key component of our growth strategy is our international foray into the MENA–GCC market. This is a key strategic move backed thoroughly by our investors, CSVP Fund and Capital2B. It is a testament of our commitment to build a global Automated Returns Management ecosystem with international clientele in the ecommerce, retailer and OEM marketplaces,” he said.