The funding round was spearheaded by Early-stage VC First Cheque with participation from Matrix Partners India DeVC, Relentless VC and other angel investors
Bengaluru: Distribution-as-a-service start-up ofScale has raised its pre-seed funding round, securing $375k, the company said in a press release on Wednesday.
Early-stage VC First Cheque spearheaded the round, with participation from Matrix Partners India DeVC, Relentless VC, and angel investors including Abhishek Goyal (co-founder of Tracxn), Mekin Maheshwari (chief people officer of Flipkart), and Revant Bhate (chief executive officer of Mosaic Wellness) among others.
With the infusion of fresh capital, ofScale plans to double down investments in product development. It also aims to deploy more GTM initiatives, further augmenting the success of its partner brands.
“For every D2C brand that has found some traction online, offline expansion is the next big agenda. OfScale with its offline expertise, enables brands to take bite-sized initiatives for their offline agenda resourcefully. Over the last 12 months, more than 15 fast-growing beauty and personal care brands have launched offline retail via ofScale,” said Suvigna Shour, co-founder of ofScale.
Founded by Shour, Tarun Kedia, and Vijay Akkaladevi in late 2022, ofScale leverages a technology-led business-to-business model, mitigating the distribution costs compared to traditional means of offline expansion.
The company is currently enabling beauty and personal care brands to establish a cost-effective offline footprint and plans to extend its services to other categories. Presently, ofScale has beauty and personal care brands such as Bodywise, Deconstruct, Arata, Paradyes, Wishcare, and Hair Originals as its clients.
