New Delhi-based Indian business-to-business (B2B) startup Bijnis has raised $30 million in a Series B funding round led by Westbridge Capital.
The round also included participation from existing investors InfoEdge, Matrix Partners India, Sequoia Capital India and Waterbridge Ventures.
According to the startup, revenue from the round will grow into a strong customer base of 5,000 (composed of retailers and manufacturers), product development for factory management, expansion of technical teams and more efficient equipment. It is used for creation. Help manufacturers better manage their operations and supply chains.
Founded by Siddharth Vij, Siddharth Rastogi, Shubham Agarwal and Chaitanya Rathi, the 6-year-old business connects small, medium and large manufacturers and retailers across the fashion, footwear and lifestyle sectors and is unparalleled. We support the creation of distribution channels. .. It creates a digital factory profile to drive business growth and expansion, and digitizes the factory to be smarter, faster and more cost-effective. It helps you manage your logistics and payments (by partnering with well-known in-game companies) and raw materials directly.
“The (Business) aims to bring factories to the world by digitizing and building a globally integrated network of manufacturers on a single platform. We have a simple and scalable operating system built in. This helps vendors drive efficiencies at optimum levels, improving overall efficiency,” said Vij, CEO, Bijonis.
The business work is even brighter as it aims to solve one of the biggest problems prevailing in modern India. Most factories in the country are not digitized, most continue to operate offline and rely on middlemen, falling behind as the number of competitors increases. The business aims to fix this issue and eliminate middlemen. There is still a long way to go, but it has shown us the way.
The pandemic has highlighted the need for factory digitization, and the business efforts have paid off as the startup has opened up a niche in the fashion sector as the B2B platform of choice. So far, over 100,000 retailers have participated. We aim to acquire 20,000 manufacturers and 1 million retailers over the next two years.
Westbridge Capital Partner Sandeep Singhal said in a statement, “The Founding team has a family background in the manufacturing industry and a very strong clear understanding given manufacturers and retailers across the fashion and lifestyle categories. We were able to create a compelling proposition. “
Source Link B2B startup BUSINESS raises $30 million in Series B to digitize Indian factory