The Series B round brings Bijnis' total funding to $43.3M. Here are the top-line bullets you need to know.
Bijnis, an online wholesale sourcing platform for retail businesses, has raised $30M in a Series B. The round drew participation from Matrix Partners India, Sequoia Capital India, and WestBridge Capital, among others.
How’s the company performing?
- New Delhi-based Bijnis helps factory owners procure raw materials and connect with retailers to generate demand. It also provides logistics and payment services to manufacturers.
- The platform is currently used by 100,000 retailers and over 5,000 factories across the fashion, footwear, and lifestyle sectors.
- The startup, which has a team of more than 200 employees, has partnered with Blue Dart, DTDC, Amazon Web Services (AWS), and Xpress Bees, among others.
- Bijnis aims to reach more than 20,000 manufacturers and 1M retailers over the next 2 years.
Source: Bijnis
Why does the market matter?
- The global B2B e-commerce market is projected to grow at a CAGR of 18.7% to reach a value of $25.65T by 2028, according to Grand View Research.
- Several vendors have adopted digital transformation initiatives to ensure smooth operations, which has led to a growing demand for technologies to help manage online shopping operations, payments processing, and more.
- The rise in online purchase volume stemming sparked by the onset of the Covid-19 pandemic has also contributed to market growth.
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