Total amount raised
$33.7 Millions
Latest funding date
1/1/2022
Location
Bijak has successfully raised $33.9 million over multiple funding rounds, including a Series B round in January 2022. The platform focuses on transforming the agricultural supply chain by offering innovative solutions for grain trading, fresh produce connections, and global market integration.
Keep reading to explore the intricacies of Bijak's fundraising journey and the investors backing this transformative platform.
What Is Bijak?
Bijak, founded in 2019, is a B2B platform revolutionizing the agricultural supply chain in India. Headquartered in Haryana, the company offers solutions for grain trading, fresh produce connections, and global market integration.
The platform was co-founded by Daya Rai, Jitender Bedwal, Mahesh Jakhotia, Nikhil Tripathi, and Nukul Upadhye. Bijak aims to empower MSME buyers and sellers by providing transparent pricing, optimized logistics, and improved working capital cycles.
With a team of 251-500 employees, Bijak continues to innovate and streamline agricultural trade, making it more efficient and accessible for all stakeholders involved.
How Much Funding Has Bijak Raised?
- Seed Round
- Amount Raised: $2.5M
- Date: October 2019
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and establish a market presence.
- Series A
- Amount Raised: $12M
- Date: April 2020
- Lead Investors: RTP Global
- Valuation at Round: $82M
- Motivation Behind the Round: To scale operations, expand the team, and further develop the product.
- Series B
- Amount Raised: $19.37M
- Date: January 2022
- Lead Investors: Bertelsmann
- Valuation at Round: $163M
- Motivation Behind the Round: To meet growing business needs, long-term capital requirements, and pursue growth plans.
Total Amount Raised: $33.87M. Current Valuation: $163M.
Key Investors
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann SE & Co. KGaA in India. They focus on digital, education, media, and services sectors.
- Investment Focus Areas: Digital, education, media, services.
- Notable Investments: Relias Learning, Udacity, HotChalk.
- Omidyar Network India
- Details: Omidyar Network India is a social impact investment firm focused on supporting innovative solutions to social challenges. They aim to create opportunities for people to improve their lives.
- Investment Focus Areas: Social impact, financial inclusion, digital identity.
- Notable Investments: d.light, Bridge International Academies, Ruma.
- RTP Global
- Details: RTP Global is a venture capital firm that invests in early-stage technology companies. They have a global presence and focus on disruptive technologies.
- Investment Focus Areas: Early-stage technology, disruptive technologies.
- Notable Investments: Delivery Hero, Yandex, Cred.
- Surge (Sequoia Capital India)
- Details: Surge is a rapid scale-up program by Sequoia Capital India for early-stage startups in India and Southeast Asia. They provide funding, mentorship, and resources to help startups grow.
- Investment Focus Areas: Early-stage startups, technology, consumer services.
- Notable Investments: Zomato, Byju's, OYO Rooms.
- Better Capital
- Details: Better Capital is an early-stage venture firm that invests in pre-seed and seed-stage startups. They focus on technology and internet companies.
- Investment Focus Areas: Early-stage startups, technology, internet companies.
- Notable Investments: Khatabook, Teachmint, Open.
What's Next for Bijak?
Bijak stands at the cusp of significant growth opportunities, driven by its mission to bridge the information gap in agricultural commodities trade. With operations spanning over 27 states and dealing in more than 110 commodities, the platform is well-positioned to capitalize on the increasing demand for transparent pricing and optimized logistics in the agritech sector.
Future fundraising appears promising, with Bijak reportedly in talks to raise $35 million at a valuation of $220-250 million. This influx of capital could further enhance their platform and expand their market reach. However, challenges such as competition from other well-funded agritech startups and the need to scale operations efficiently remain critical hurdles to navigate.
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