UpScalio, an e-commerce roll-up firm, has secured $15 million in a pre-Series B investment headed by Gulf Islamic Investments in the United Arab Emirates (GII). Northern Arc and Unity Bank were among the lenders who took part in the round.
After financing companies like 1-India Family Mart and Bombay Shaving Company, this is GII’s sixth investment in India. In 2021, GII announced that it would invest $500 million in the Indian market spanning consumer brands, consumer technology, and healthcare.
This round of funding follows UpScalio’s $42.5 million Series A round led by Presight Capital in August 2021.
UpScalio, founded by Gautam Kshatriya, Saaim Khan, and Nitin Agarwal in April 2021, buys majority interests in high-growth online-first startups and helps them scale their businesses by 5-10X in two to three years, allowing the founders to depart.
UpScalio, established in Gurugram, currently has 13 brands in the home and kitchen, furniture, auto accessories, lawn and gardening, and other utility areas. The company claims that its portfolio has a current annualised GMV (Gross Merchandise Value) of Rs 300 crore.