Sachin Agrawal (Bizongo)
Overview
Sachin Agrawal is an Indian entrepreneur and one of the co-founders of Bizongo, alongside Aniket Deb and Ankit Tomar. Bizongo, established in 2015, is a technology company that offers a platform for vendor digitization, procurement, and supply chain financing, specifically catering to the B2B marketplace. The platform is renowned for integrating multiple operational facets, including packaging procurement and supply chain automation, to support small and medium enterprises (SMEs) in India. Agrawal, with his technical acumen and strategic vision, has been instrumental in scaling the company's operations, helping Bizongo raise significant venture capital and achieve near-unicorn status.
Recent Developments
Recent news and events surrounding Sachin Agrawal and Bizongo highlight a dynamic period of growth and challenges:
- March 2025: Bizongo raised $4.5 million in its latest Series E funding round led by Accel, IFC, and other investors. This funding is aimed at scaling the company’s operations and supporting its goal to achieve profitability by the fiscal year 2026.
- January 2025: The Bizongo platform faced scrutiny after auditors flagged potential irregularities in its financial practices, necessitating a deeper investigation to address these issues.
- Late 2024: Bizongo was involved in a legal dispute following a complaint filed by TradeCred with Mumbai’s Economic Offences Wing. The complaint alleged that Bizongo misappropriated funds by diverting payments from its now-discontinued supply chain financing vertical.
- October 2024: Bizongo achieved a valuation of $980 million post a significant funding influx, positioning it on the verge of becoming a unicorn.
- CEO Restructuring: In early 2025, Prahlad Krishnamurthi was promoted to CEO from within the company, with Agrawal stepping down from the CEO role to focus on strategic planning and board responsibilities.
- Business Strategy: Bizongo expanded its business model by integrating a 'golden triangle' approach combining commerce, finance, and logistics to bolster its B2B ecosystem, facilitating more efficient SMEs' processes in India.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Sachin Agrawal |
| Nationality | Indian |
| Occupation | Entrepreneur, Co-founder of Bizongo |
| Known For | Co-founding Bizongo |
| Education | Indian Institute of Technology, Bombay |
| Sachin Agrawal LinkedIn Profile |
Early Life and Education
Sachin Agrawal was born in India and developed an interest in technology and entrepreneurship during his academic years. He attended the prestigious Indian Institute of Technology (IIT) Bombay, where he studied engineering. During his time at IIT, he was awarded the Institute Organizational Color, which is a testament to his leadership and organizational capabilities. Agrawal's formative years were characterized by a strong emphasis on education and innovation, which eventually paved the way for his entrepreneurial endeavors.
Career and Notable Achievements
After graduating from IIT Bombay, Sachin Agrawal, along with Aniket Deb and Ankit Tomar, founded Bizongo in 2015. Their goal was to address the inefficiencies in India's B2B packaging industry.
- 2015: Bizongo was established, focusing on streamlining procurement processes for the packaging industry.
- 2016-2023: The company underwent multiple rounds of funding, raising a total of over $257 million from notable investors like Accel and IFC.
- 2021: Bizongo expanded its platform offerings, integrating advanced data analytics and AI to enhance supply chain solutions.
- 2023: Agrawal was recognized for his contributions to developing sustainable and tech-driven supply chain solutions in the B2B market.
Current Work and Impact
In his current capacity at Bizongo, Sachin Agrawal continues to focus on strategic development and innovation. Under the leadership restructuring, the company has pivoted towards a tech-driven model that emphasizes the digital transformation of enterprise workflows. Bizongo's impact has been significant in the sectors of packaging and procurement in India, facilitating cost-effective and efficient supply chain solutions for SMEs. This transformation has positioned the company as a leader in the enterprise technology space.
Bizongo Funding
Bizongo has seen substantial financial backing over the years, with significant funding rounds boosting its valuation:
- Series E (October 2023): Raised $50 million, increasing its valuation to $980 million.
- Total Funding: Over $257 million from a mix of seed, early-stage, and late-stage venture capital rounds.
- Investment Round Insights: The funding has been instrumental in expanding Bizongo's market reach and enhancing technological capabilities across various sectors.
Bizongo Revenue
Bizongo's revenue stream has grown substantially over the years, driven by its innovative business model and strategic partnerships.
- Annual Revenue: As of March 2023, Bizongo reported a revenue of $23.1 million, with projections suggesting continued growth owing to its operational expansions and increased market penetration.
Conclusion
Sachin Agrawal, through his visionary leadership at Bizongo, has established a robust platform that significantly influences the B2B commerce landscape in India. The company's focus on integrating commerce, finance, and logistics exemplifies its commitment to innovation and customer-centric solutions. As Bizongo continues to expand and refine its operational strategies, it stands poised to revolutionize the B2B space, reinforcing its status as a near unicorn with potential for substantial future growth.