Cellular-commerce companies firm Bikayi has raised USD 10.8 million in Collection-A funding spherical led by Sequoia Capital India, in line with an organization press launch. Earlier in August 2020, the corporate had raised USD 2 million as part of its seed spherical of funding led by Y Combinator. The corporate was based by Sonakshi Nathani and Ashutosh Singla in 2019.
Bikayi allows Small and Medium-sized Companies (SMBs) to scale up on digital platforms thereby enabling them to succeed in out to a wider viewers base. The platform supplies companies with a digital storefront, skilled options, and instruments to assist them develop.
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“India is on the cusp of an e-commerce revolution and we imagine small and medium companies will play a pivotal position in shaping this panorama over the subsequent decade,” Shraeyansh Thakur, Vice President, Sequoia Capital India stated.
“Our imaginative and prescient is to empower each small enterprise to win within the rising on-line market by offering them with inexpensive instruments, serving to them obtain unimaginable objectives. We’re on a mission to fulfil the aspirations of tens of millions of small companies that drive our economic system,” Commenting on the fundraise, Nathani stated. She can also be the Chief Govt Officer (CEO) of the corporate.
India is residence to over 75 million SMBs, which account for over 30 per cent of India’s GDP, make use of over 130 million, and kind the spine of the economic system, Thakur stated.
“Fast digitisation of SMBs and the deepening of the e-commerce ecosystem are enormous tendencies in India and Bikayi is constructing a next-gen product that sits on the confluence of each these tendencies, integrating the whole infrastructure of commerce onto one single platform,” he additional stated.
“The staff is worked up to associate with Sonakshi, Ashutosh, and the Bikayi staff of their mission to empower tens of millions of SMBs to have interaction their prospects on-line,” he additional stated.
Bikayi’s annual Gross Merchandise Worth (GMV) has grown 1800 per cent as per the claims made by the corporate within the launch. The service provider base has grown at 5 instances during the last eight months, the discharge stated.