UpScalio raises $15-M from Gulf Islamic Investments, Northern Arc, Unity Bank

Gurugram-based, Thrasio-style e-commerce brands roll-up firm UpScalio has raised pre-Series B funding of USD 15 million (around INR 114 crore) led by Gulf Islamic Investments (GII), with participation from Northern Arc and Unity Bank. Till date, UpScalio has invested in 13 companies in utility sectors such as home and kitchen, furniture, auto accessories, and lawn and gardening over the last nine months. The latest round follows UpScalio's USD 42.5 million round led by Presight Capital in August last year.