Evenflow Brands Tech Pvt Ltd, a Thrasio-style marketplace aggregator, was founded by former Uber executives Utsav Agarwal and Pulkit Chhabra. Shashank Ranjan is also listed as a co-founder. Founded in 2021, the Mumbai-based startup has so far raised close to $14 million across multiple rounds, with earlier backing from 100Unicorns, Village Global, Equanimity, Kunal Shah, and Vijay Shekhar Sharma, among others. Evenflow acquires and scales third-party consumer brands operating primarily on e-commerce marketplaces. The new funds will be used to grow and further improve the bottom line across its multi-brand portfolio, which includes Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware. These brands are currently distributed in India, the United States, and the Middle East and North Africa (MENA) region.
According to the company, its focus on quick commerce and marketplace distribution—via platforms such as Amazon, Flipkart, Blinkit, Instamart, Zepto, and Walmart—has enabled 350% growth in recent months. "We are a low-margin business. With scale, we are beginning to see backend synergies play out, with our downstream cost per unit reducing by the month and further flexibility to stress test the end customer pricing upwards or downwards - thus turning our big bets SKUs into a profitable engine. We plan to make this engine more robust," said Utsav Agarwal, CEO and Co-founder of Evenflow." Additionally, India's buying behaviour is changing significantly over the last 3-4 quarters on the back of qcommerce - it's a unique opportunity for brands like ours to scale,and be available to be delivered within 10mins - something we are laser focussed on," Agarwal added. Evenflow aims to increase its revenue by 10x and profits by six-fold by 2027 through building a strong core team, scaling the business, and maintaining a healthy bottom line.
Dr. Apoorva Ranjan Sharma, Co-founder of VCats & 100Unicorns, said, "Evenflow is one of the few companies that are profitable in this space. Their innovative approach and commitment to operational excellence continue to set them apart. We are proud to have supported Evenflow from the beginning, and we look forward to seeing how they leverage this investment to further enhance their growth trajectory and redefine e-commerce success. "Evenflow is combining data, digital, and sharp execution to build consumer brands that last. Their focus and discipline give me confidence that they’re not just scaling fast, they’re scaling right," said Sunder Ramachandran. Evenflow, a leading house of brands that claim to be the only profitable player in this space globally, has raised an undisclosed amount in funding from Venture Catalysts, Sunder Ramachandran and a few angels.