Bengaluru: Blubirch is a leader and pioneer in the SaaS and AI-based automation-driven reverse supply chain management platform — Returns Automation and Monetization Platform that helps retailers, e-commerce players, brands, marketplaces and OEMs to improve revenue, increase profits and enhance customer experience.Blubirch’s solutions stakeholders across the reverse supply chain to identify invalid returns at source and manage the automated processing of returns at scale, including — customer returns [online/offline], dealer returns, e-commerce returns as well as warranty claims, trade-in [exchange] returns, lease returns or internal returns.
Blubirch is pleased to share that it has secured a total fundraising to date of US$ 10.2 million [INR 85 crores], with the unique fundraising in this particular round to the tune of US$ 6.37 million [INR 53 crores].
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 of retailers and OEMs. Blubirch’s solutions have helped retailers and OEMs automate the returns management process to improve transparency and compliance while assisting them to 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 e-commerce 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.
Speaking on this investment, Abhishek Prasad, Managing Partner, Cornerstone Venture Partners Fund, said, “We believe Blubirch is solving a fairly large and complex need in the market. Its AI-led product enables marketplaces and OEMs’ decisions on the 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 a 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 and 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 of 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 to our commitment to build a global Automated Returns Management ecosystem with international clientele in the e-commerce, retailer and OEM marketplaces,” he said.
A pioneer in the Returns Automation Platform as a Service [as an Enterprise SaaS product for Automated Returns Management] market, Blubirch was founded in 2014. The company focuses on optimizing returns management and advancing the circular economy while improving revenue, profit margin, customer experience and fulfilling environmental and social objectives for retailers, OEMs, brands and enterprises.
Blubirch works to minimize product returns, eliminate waste, and increase product lifespan by utilizing advanced technologies. The company offers a complete reverse supply chain management solution with their AI and ML-powered Returns Automation and Monetization Platform, enabling real-time returns tracking. With increasing returns eroding profit margins, retailers, brands, e-commerce players, enterprises, and OEMs are engaging with Blubirch to optimize their returns process, right from returns initiation, inward into the warehouse, automated testing and grading, to intelligent disposition decisions. Blubirch’ssystemized approach to product innovation entails a highly research and development-driven outlook.
About Cornerstone Ventures:
Cornerstone Ventures is India’s frontier enterprise tech fund investing in highly scalable SaaS products with the potential to transform enterprises. The fund backs next-generation technologies and new business models in the enterprise world, typically in the Series A and Series B stages.
About Capital2B Fund:
Capital 2B is an INR 600 crores fund focused on investing in technology and IP-driven businesses backed by stellar LPs. The fund primarily targets early-stage and expanding startups deeply ingrained in science and technology.