Bizom has successfully raised $5.3 million over three funding rounds, achieving a valuation of $15 million. The platform offers a comprehensive suite of B2B sales force automation tools designed to optimize the retail supply chain.
Keep reading to explore the intricacies of Bizom's fundraising journey and the investors backing this innovative platform.
What Is Bizom?
Bizom, founded in Bengaluru, India, is a retail intelligence platform that automates the retail supply chain using Sales Force Automation (SFA) and Distributor Management System (DMS). The company was established by Shree Bhise, Narayanan Anoop, Vasudeva Manjunath, and Lalit Bhise.
Bizom helps Consumer Packaged Goods (CPG) and Fast-Moving Consumer Goods (FMCG) brands digitize their end-to-end sales and distribution processes. The platform is used by over 350 enterprises and approximately 170,000 individual users across various regions, including India, South East Asia, Middle East, Africa, and North America.
With a workforce of 201-500 employees, Bizom leverages proprietary analytics with AI & ML to deliver custom reports, alerts, and actionable insights. The platform reaches 1 in 3 retailers, equating to 5 million retailers globally.
How Much Funding Has Bizom Raised?
- Seed Round
- Amount Raised: $250,000
- Date: March 2013
- Motivation Behind the Round: Initial funding to develop the product and establish a market presence.
- Series A Round
- Amount Raised: $3,500,000
- Date: June 2018
- Lead Investors: SIDBI Venture Capital Limited (SVCL)
- Valuation at Round: $11M
- Motivation Behind the Round: The funds were used for research and development and to power expansion plans through an intensified sales and marketing push.
- Series A Round
- Amount Raised: $1,500,000
- Date: May 2020
- Lead Investors: IndiaMART, Triton Investment Advisors, SIDBI Venture Capital
- Valuation at Round: $15M
- Motivation Behind the Round: The funding was aimed at scaling operations and enhancing the retail intelligence platform.
Total Amount Raised: $5.3 million. Current Valuation: $15 million.
Key Investors
- IndiaMART
- Details: IndiaMART is a leading B2B e-commerce platform in India, connecting buyers with suppliers. It was founded in 1996 and has grown to become one of the largest online marketplaces in the country.
- Investment Focus Areas: B2B e-commerce, technology solutions, business operations.
- Notable Investments: Vyapar, Shipway, ProcMart.
- Triton Investment Advisors
- Details: Triton Investment Advisors is an investment firm that focuses on data-driven approaches to solve sales and distribution problems. They have a keen interest in technology and innovative business solutions.
- Investment Focus Areas: Technology, data-driven solutions, sales and distribution.
- Notable Investments: The article does not provide specific details on other notable investments.
- SIDBI Venture Capital Limited (SVCL)
- Details: SVCL is a venture capital firm that provides funding to small and medium enterprises (SMEs) in India. It is a wholly-owned subsidiary of the Small Industries Development Bank of India (SIDBI).
- Investment Focus Areas: SMEs, technology, innovation.
- Notable Investments: The article does not specify other notable investments by SVCL.
- Ojas Partners
- Details: Ojas Partners is an early-stage investment firm that focuses on technology-driven companies. They have been involved in the startup ecosystem for several years.
- Investment Focus Areas: Early-stage investments, technology, startups.
- Notable Investments: The article mentions that Ojas Partners provided seed funds to Mobisy in 2013 but does not list other specific investments.
- Individual Investors
- Details: Several individual investors have participated in funding rounds for Bizom, contributing to its growth and development. These investors often bring valuable industry experience and networks.
- Investment Focus Areas: Varies by individual, often includes technology, retail, and innovation.
- Notable Investments: Specific notable investments are not detailed in the articles.
What's Next for Bizom?
Bizom stands at the cusp of significant growth opportunities, driven by the increasing demand for automation in the retail sector. With a robust suite of solutions, including sales force automation and distributor management systems, Bizom is well-positioned to capitalize on the projected $50 billion Indian SaaS market by 2025. The platform's integration of AI and ML technologies offers real-time insights, making it indispensable for over 500 enterprises and 65,000 retail outlets.
Future fundraising appears promising, given the strong investor interest in the SaaS sector. Previous successful rounds, including a $3.5 million investment led by SIDBI Venture Capital Limited, indicate potential for further capital influx to support Bizom's expansion. However, challenges such as intense competition and the need for continuous innovation loom large. Navigating these hurdles will be crucial for Bizom to maintain its growth trajectory and market leadership.
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