Thursday, June 13, 2024
HomeStart UpofScale raises $375K in pre-seed funding round 

ofScale raises $375K in pre-seed funding round 

ofScale, a distribution-as-a-service platform, has secured $375,000 in a pre-seed funding round led by First Cheque. Matrix Partners India DeVC, Relentless VC, and other angel investors, including Abhishek Goyal, Mekin Maheshwari, and Revant Bhate, participated in the funding.

The company will use the funds to intensify product development and implement additional go-to-market (GTM) initiatives, according to a press release from ofScale.

Founded in 2022 by Suvigna Shour, Tarun Kedia, and Vijay Akkaladevi, ofScale employs a technology-driven business-to-business model to minimize distribution costs, distinguishing it from conventional offline expansion methods. Initially, the company focuses on empowering beauty and personal care brands to establish a cost-effective offline presence, with plans to expand its services to other categories.

“For every D2C brand that has found some traction online, offline expansion is the next big agenda. ofScale enables brands to take bite-sized initiatives for their offline agenda resourcefully. Over the last 12 months, over 15 fast-growing beauty and personal care brands have launched offline retail via ofScale,” said Suvigna Shour, Co-founder & CEO, ofScale.

ofScale’s marketplace facilitates brands renting retail shelves within independent stores, streamlining their entry into offline markets. Through technology, ofScale democratizes distribution, breaking down barriers for smooth, large-scale adoption.

Based in Bengaluru, the company asserts its collaboration with prominent direct-to-consumer (D2C) beauty and personal care brands, including Bodywise, Deconstruct, Arata, Paradyes, Wishcare, and Hair Originals. ofScale further claims that in the past 12 months, it has facilitated the offline retail launch of over 15 rapidly growing beauty and personal care brands.

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