Reliance Venture Asset Management, a corporate venture capital firm and an arm of the Reliance ADA Group, today announced it has successfully completed the first round of venture funding in Reverse Logistics Co, a technology enabled end-to-end reverse supply chain solutions company.
The announcement is in line with the company’s recent rebranding and widening focus on investing in disruptive and sustainable business models with a sector agnostic philosophy, a company release here said.
Kleiner Perkins Caufield and Byers and Sherpalo are co-investors in this round of funding in Reverse Logistics Co. along with Reliance Venture Asset Management.
Founded in 2008, Reverse Logistics Co uses its proprietary technology to help its customers reduce supply chain costs by over 25 per cent, increase asset recovery by over 100 per cent, improve productivity by over 10 per cent, and get a 100 per cent customer satisfaction while growing profitability exponentially, it said.
Reverse logistics refers to the backward supply chain network where a product moves from the end consumer to the manufacturer for reuse, disposal or surplus sale purposes with the rationale to increase overall efficiencies, the release added.