Increff, a software-as-a-service provider, announced that it has raised USD 12 million (roughly Rs 82.62 crore) in a Series B funding round led by TVS Capital Funds.

This round was led by Flipkart co-founder Binny Bansal's 021, Premji Invest, Capital, and six existing angels.

Increff, a supply chain SaaS provider, said on Saturday that the cash will be used to open offices and enhance local teams in the US and Europe.

According to the release, the funds obtained will be used to expand Increff's range of innovative solutions and services for supply chain optimization.

Rajul Jain, CEO and co-founder of Increff, stated, "We have been growing between 83 per cent and 116 per cent year-on-year for the last four years (including Covid period). We are solving retailing challenges for global brands like Puma, adidas, Bata, Levi's, Pepe, Celio, Gap, Benetton, Tommy Hilfiger, Mango, CK, Louis Philippe, Van Heusen, Jack & Jones, Namshi, Aramex, Sephora, Amazon, etc. Now our focus will be on growing fast, taking our technology product as well as our warehousing services to the US and Europe in a big way, and adding visionary products.”