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UpScalio, a Thrasio-style venture that finances e-commerce brands, will back sports and fitness firms, baby and child care brands and petcare startups. It is also in advanced talks with investors to raise $30-50 million within 3-6 months, said Nitin Agarwal, co-founder and chief growth officer, UpScalio.

Gurugram-based UpScalio seeks to acquire 12-15 startups for deal sizes of 20-50 crore each annually. “We look to close revenue at 350 crore by end-FY23. In terms of profitability, we are looking to break even by the fourth quarter. In view of the festival season and end-of-year sales, we will focus on driving growth for our existing brands," he said.

UpScalio India Pvt. Ltd, founded in 2021, provides funding to digital brands selling on e-commerce marketplaces like Amazon, Myntra, Flipkart and Nykaa, managing key operations, such as multi-marketplace management, digital marketing, logistics, sourcing, finance, branding and business operations.

Gautam Kshatriya, a former McKinsey and Co consultant, Saaim Khan, an ex-Bain and Co. consultant, and Agarwal, former marketing growth executive at Purplle, founded the startup. UpScalio claimed to have raised employee count to 200 in the last six months, and built an in-house customer experience team of 40 people. It has also added delivery partners to its network to expand to 20,000 pincodes across India.

“Till date, we have acquired stakes in 12 brands, including office furniture startups, high-end kitchen appliances, trekking bags and backpacks, footwear, computer peripherals, kitchenware, laptop bags, and auto accessories. We typically look at firms with an EBITDA of at least 15%. On the firm front, we’re looking at corporate-level breakeven by Q4," he said. “Our experts can work on many brands, share cross-category intelligence and create synergies leading to revenue expansion for each brand.

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