Get All Access for $5/mo

Powerhouse91 Raises Funding From Global Investors The company recently announced its entry across multiple categories through brand acquisitions

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Powerhouse91

Powerhouse91, the tech-driven company acquiring and growing e-commerce brands in India, on Tuesday announced that it has onboarded multiple marquee global investors, raising an undisclosed amount of capital from them.

One of the incoming investors, FJ Labs, is a US-based venture capital firm that focuses on marketplaces and consumer-focused businesses. The investment in Powerhouse91 marks FJ Labs' entry into the Indian roll-up space. The funding also included participation from Maninder Gulati, global chief strategy officer, OYO; and Haresh Chawla, partner, True North Co.

Ryan Gnesin (co-founder, Elevate Brands) and Sujay Tyle (co-founder, Merama), who have successfully built and scaled roll-up ventures in the US and Latin America, have backed Powerhouse91 in their individual capacity. Varun Alagh, founder, Mamaearth –D2C brand, also joined Gnesin and Tyle.

"Securing the backing from such marquee investors reaffirms our thesis towards building a successful roll-up business, tailor-made for the Indian E-commerce ecosystem. With the likes of FJ Labs, Ryan, Sujay, and Varun on board, the opportunities for cross-learning will be immense," said Nikhil Agrawal, co-founder, and chief corporate development officer, Powerhouse91.

"We see this as a significant addition to our knowledge and expertise pool and consequently our ability to scale the acquired brands multifold over the course of next few years. Our shared vision towards creating an efficient e-commerce growth engine that helps us scale while maintaining healthy profitability is what brought us together in the first place," shared Aqib Mohammed, co-founder, Powerhouse91.

The platform is co-founded by Aqib Mohammed, Nikhil Agrawal, and Shashwat Diesh, acquires high-potential consumer brands to scale them through deep e-commerce focused optimizations and product innovation.

"When building OLX I saw first-hand the massive potential of e-commerce in India. We at FJ Labs are thrilled to be backing the Powerhouse91 team as they grow the next generation of Indian e-commerce brands," added Fabrice Grinda, founding partner, FJ Labs.

The company had recently announced its entry across multiple categories through brand acquisitions.

Prabhjeet Bhatla

Former Staff

Starting a Business

I Left the Corporate World to Start a Chicken Coop Business — Here Are 3 Valuable Lessons I Learned Along the Way

Board meetings were traded for barnyards as a thriving new venture hatched.

Growing a Business

I Recently Rebranded My Entire Company — Here are 12 Strategies I Learned to Take My Brand to the Next Level

Rebrands represent an incredible opportunity for growing brands to ensure their visual identity and overall brand experience accurately reflect their values and positioning.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Costco Customers Claim a Favorite Food's New Packaging Is Causing Leaks: 'Hated Everything About It'

Costco's rotisserie chicken is a cult-favorite item with a low price point, but its new packaging is reportedly making a mess.

Business News

Chick-fil-A's Camp for Kids 'Completely Booked,' Critics Call It 'Disturbing'

Campers who attend the $35 session receive a free kids meal, T-shirt, and name tag.