We are delighted to announce the closure of a seed funding round led by 021 Capital with additional participation from 9Unicorns and Lets Venture.
According to Crunchbase, South Asian venture capital firm 021 Capital has made 21 investments to date and has helped several startups expand, build a strong team and infrastructure and strengthen the supply chain ecosystem.
“One of the major challenges that the eCommerce industry faces are high returns. We are taking a unique approach using AI-ML that improves the bottom line of businesses by reducing returns, helping them meet sustainability goals, and reducing their overhead costs. With this capital from our investors, Saara will continue to assist direct-to-consumer brands to increase their profitability, introduce more market-disrupting products to build a stronger ecosystem,” said Sachin Garg, Saara CEO and Founder.
“This is the perfect time to partner with our investors, as we have a proven business model and our clients in the eCommerce sector are using our solution extensively to reduce and automate returns for their brands,” he further added.
The funds will be utilized in developing deeper technologies to meet its mission of reducing returns and providing a one-stop solution to eCommerce merchants worldwide.
While most eCommerce business owners complain of high returns as a major concern, it also has a detrimental impact on the environment. Hauling returned goods in the USA creates over 15 million metric tons of CO2 emissions in a year, while nearly 5 billion pounds of these items end up in the US landfills.
EcoReturns – the proprietary AI-ML-powered returns app by Saara – is an end-to-end returns management software that not just manages returns, but reduces them too. It helps online store owners automate and reduce returns in a sustainable manner.
Garg built EcoReturns, with a vision to reduce the carbon footprint caused by returns while turning them into a profit center for businesses. It is free to install by merchants on the Shopify App Store and is soon going to launch on multiple other platforms such as Magento, WooCommerce, and more.
We grew 250% in the quarter ending March 2022, and have prevented returns worth over $500,000 in the last 4 months.
Saara is trusted by a wide customer base including leading brands such as PVH, Mango, Flipkart, Wanderlooms, etc, and is additionally backed by Techstars, SAP.io, Plug&Play, and more such leaders in the industry.