Total amount raised
₹3.1 Billions
Latest funding date
9/1/2021
Location
Bijnis has successfully raised funds through multiple rounds, with its latest being a Series B round closed on September 28, 2021.
With backing from notable investors like WestBridge Capital and Matrix Partners India, Bijnis continues to expand its B2B commerce platform.
What Is Bijnis?
Bijnis, founded in 2015, is a B2B commerce platform based in New Delhi, India. The company connects footwear manufacturers, retailers, component suppliers, and buyers to streamline factory operations.
Founded by Chaitanya Rathi, Shubham Agarwal, Siddharth Rastogi, and Siddharth Vij, Bijnis aims to make factories smarter and more efficient. Their services include digital ID creation, factory operations management, and export assistance.
With a workforce of 251-500 employees, Bijnis continues to expand its reach and improve margins through direct retailer engagement and a pan-India distribution network.
How Much Funding Has Bijnis Raised?
- Pre-Seed Round
- Amount Raised: ₹9M
- Date: October 2016
- Lead Investors: IAN Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial setup and early-stage growth.
- Seed Round
- Amount Raised: ₹30M
- Date: April 2018
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Seed Round
- Amount Raised: ₹30M
- Date: November 2018
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Seed Round
- Amount Raised: ₹60M
- Date: April 2019
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand the user base.
- Seed Round
- Amount Raised: ₹110M
- Date: September 2019
- Lead Investors: WaterBridge Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve product offerings.
- Series A
- Amount Raised: ₹639M
- Date: July 2020
- Lead Investors: Peak XV Partners, Z47
- Valuation at Round: ₹190 crore
- Motivation Behind the Round: To support growth and scaling operations.
- Series B
- Amount Raised: ₹2.2B
- Date: September 2021
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the base of manufacturers, grow the retailer base, and develop technology and products to increase factory production efficiency.
Total Amount Raised: ₹3.1B. Current Valuation: Not publicly disclosed.
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a leading investment firm focused on high-growth companies in India. They have a strong track record of partnering with successful businesses to drive growth and innovation.
- Investment Focus Areas: High-growth companies, technology, consumer sectors.
- Notable Investments: Oyo, PolicyBazaar, Delhivery.
- Info Edge
- Details: Info Edge is a prominent Indian internet company known for its investments in various tech startups. They operate several popular online platforms and have a significant presence in the Indian tech ecosystem.
- Investment Focus Areas: Internet-based businesses, technology startups.
- Notable Investments: Zomato, PolicyBazaar, Naukri.com.
- Matrix Partners India
- Details: Matrix Partners India is a venture capital firm that invests in early-stage companies in India. They focus on helping startups scale and achieve their growth potential.
- Investment Focus Areas: Early-stage companies, technology, consumer sectors.
- Notable Investments: Ola, Practo, Dailyhunt.
- Sequoia Capital India
- Details: Sequoia Capital India is a branch of the global venture capital firm Sequoia Capital. They invest in startups across various stages and sectors, with a focus on technology and innovation.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Byju's, OYO, Zomato.
- WaterBridge Ventures
- Details: WaterBridge Ventures is an early-stage venture capital firm focused on investing in technology-driven startups in India. They aim to support innovative companies from their inception to growth stages.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: Unacademy, Chalo, Magicpin.
What's Next for Bijnis?
As Bijnis looks to the future, the opportunities are vast. The company aims to expand its base of manufacturers and retailers, tapping into the $100 billion+ market in the fashion, footwear, and lifestyle sectors. With over 5,000 manufacturers already on board, Bijnis plans to grow this number to 20,000 and increase its retailer base to 1 million within the next two years. This expansion is supported by the recent $30 million Series B funding round, which will also be used to develop more efficient tools for managing operations and supply chains.
Future fundraising opportunities seem promising, given the strong backing from investors like WestBridge Capital, InfoEdge, and Sequoia Capital India. As Bijnis scales, additional funding rounds may be necessary to support its ambitious growth targets and technological advancements. However, the company will face challenges such as managing the transition from traditional supply chains to a digitized model and competing with other B2B platforms. Ensuring scalability and maintaining efficiency will be crucial as Bijnis continues to innovate and expand its reach.
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