On Thursday, the ecommerce management startup Assiduus Global (1) had secured 1 million USD in its Series A funding round for its business in India. The funding round of the Bengaluru-based firm was led by multiple investors, including VC Firm K Partners, along with others. It will use the latest finance to develop and grow its brand in Nutraceuticals and beauty domains, stated the company.
Somdutta Singh, Founder and Chief of Assiduus Group, commented on the latest funding round. She stated that the latest infusions would help them develop robust market offerings and boost our critical market efforts. The company will also widen and increase its product and technology development.
She added that the firm would execute their vision more aggressively thanks to the financial support and presence of domain expertise in its team. Assiduus Global also has the perspective, experience, and networks of its investors supporting the firm during its growth period.
Assiduus Global to Scale its Ecommerce Business World-wide
The firm owns brands including Irotica and Biotevia in India. It has also partnered with global Fortune 500 Companies to build and scale their international ecommerce business. Assiduus Global is planning to become its exclusive distribution and supply chain partner across the globe.
The firm is also intending to propel its new product line in children’s health and nutrition called Smart Vitamin. They also have beauty and wellness commodities for women under the brand name Boss Lady Beauty. The brand is soon going to expand in other countries such as the UAE and Singapore.
David Newman, NHI, while commenting on the latest infusions, stated that Assiduus Global is an excellent example of an industry 5.0 focus capital-efficient firm that investors like. It has infused technology with its brands that draw high profit for ecommerce players.
During the COVID-19 pandemic, the company has also collaborated with Brinton Pharmaceuticals, a global pharmaceutical company. They will jointly launch their merchandise on the COVID-19 range on their platforms to promote the Make In India initiative. It will also help communities that need support.