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B2B packaging startup Bizongo has secured $25 million in funding. Among other things, the company will use the money to expand its customer base for supply chain business. Tiger Global-backed packaging startup Bizongo has raised $25 million from Liquidity Group’s fund— Mars Growth Capital. Bizongo plans to utilize the funds to expand its customer base in the supply chain market, and enhance its Southeast Asian presence. Managing director at Mars Growth Capital and Global CRO of Liquidity Group, Yaron Primovich, said, "The investment will allow for 100% availability of packaging material and no stock-outs at extremely low inventory levels, as well as aid Bizongo's clients in decreasing their made-to-order product line procurement costs."  In 2015, IIT graduates Aniket Deb, Sachin Agrawal, and Ankit Tomar established Bizongo , a tech-enabled B2B platform that offers packaging solutions across diverse sectors such as consumer durables, fashion and lifestyl...

SoftBank is expected to reduce startup funding by more than half in 2022. Japanese investment giant suffered a massive net loss of $13.14 billion in the last financial year. SoftBank posted a massive financial loss of 1.708 trillion yen ($13.14 billion) for the fiscal year ending March 31, warning it would be forced to decrease startup funding by more than half this year. According to Nikkei Asia, the Japanese investment behemoth also disclosed its largest-ever quarterly net loss, 2.1 trillion yen ($16.2 billion), during the January-March quarter. SoftBank also disclosed a record $27 billion loss for the year to its Vision Funds, owing to large losses in investments in digital businesses such as Coupang and Didi Global. SoftBank spent $2.5 billion in the January-March quarter, compared to $10.4 billion in the preceding quarter. The investment giant put more than $46 billion of its money in startups in the previous fiscal year. SoftBank CEO Masayoshi Son stated th...