Assiduus Global, the e-commerce portfolio and brand management company has raised $1 million in Series A Funding from multiple investors for its India business. Assiduus Global owns brands that include Irotica and Biotevia in India and partners with global Fortune 500 companies to help them build and scale their global e-commerce business by becoming their exclusive global distribution and supply chain partner. Assiduus Global India has raised $ 1 million from VC Firm - K Partners and few notable HNI’s .
The funding will help develop & expand the brands founded and owned by Assiduus Global, especially in the domain of Nutraceuticals and beauty. The second objective of the funding will be to advance and strengthen Assiduus Global’s technological prowess. Assiduus is the exclusive partner and e-commerce distributor for some of the largest forture 500 brands globally ranging from Nutraceuticals, Home & Kitchen, Beauty and Fashion.
Investor, David Newman says, "What Somdutta and her team have developed over the last few years is hugely impressive, and we're excited to be working together to create a global market leader in the e-commerce space. Assiduus is a great example of the type of founder-led, Industry 5.0 focus capital-efficient business that we like to invest in. What enticed us the most is the way Assiduus marries technology along with its brands to bring the highest amount of profitability for E-commerce players."
Assiduus will soon be launching a completely new line of health and nutrition supplements, for children as well as beauty and wellness supplements for women under the brand name Smart Vitamins & Boss Lady Beauty respectively. The brand is currently in stage of expansion to other countries, namely, UAE and Singapore. Assdiuus has also developed a brand for maternity lingerie for women, under the brand name Irotica.
Commenting on the funding, Dr. Somdutta Singh, Founder & Chief at Assiduus Group said, “The funding will help us aggressively to develop stronger market offerings, expand our efforts into key markets as well as broaden and accelerate product development and technology prowess. As a business with expertise in the e-commerce domain, we’re just scratching the surface of how potent e-commerce can be when it’s combined with the massive scale offered by the global ecosystem. Having the financial support and domain expertise from our team leaders will help us execute our vision even more rapidly and broadly – and with the benefit of experience, perspective and relationships of our investors who are supporting us through an accelerated growth period.”
As the current pandemic situation unfolded, Assiduus collaborated with Brinton pharmaceuticals, one of the world’s fastest-growing global pharmaceutical companies, to jointly launch their COVID range of merchandise on e-commerce platforms to promote the visionary Make In India initiative and help communities in dire need of support. The initiative included launching N95 masks, PPE Kits, OPD kits, surgical gowns etc. Assiduus is recognized by MSME, Government of India for its Make in India initiatives and has been relentlessly supplying merchandises to various hospitals, Government agencies and NGOs since this initiative was launched in March 2020.
One of Dr Som’s visions is to build a brand name, a company that will be led from the front by exceptional and highly motivated industry leaders who foster a strong sense of teamwork and will take the business to new heights. The management team, with a cumulative experience of 40 years, will be led by Mohit Gadam heading Global Operations, Kamalika Ghosh heading Global Communications and Puja Das heading Global Digital and Strategy alongside a strong global team spread across US, Manila and India.