Heliad Equity Partners, MPGI, 468 Capital and Whiteboard Capital also participated in the funding round, the company said. The Indian ecommerce market is one of the fastest growing globally and is expected to grow at over 35% a year over the next five years, the company said. “This team is expected to double to over 100 by the end of the year as the ecommerce accelerator launches operations with its partner businesses,” the company said. Founded by former McKinsey & Company consultant Gautam Kshatriya, former Bain & Company consultant Saaim Khan, and former Disney+Hotstar and Purplle marketing and growth executive Nitin Agarwal, Upscalio has a team of over 50 specialists across functions.