Sequoia, Matrix Partners India Invests $10 Million In B2B Marketplace ‘Bijnis’
Bijnis, a B2B marketplace, has raised $10 million in a Series A funding round of investment.
The funding round was co-led by Sequoia Capital India and Matrix Partners India, along with existing investors InfoEdge and Waterbridge Ventures.
As per Bijnis, it plans to keep on helping manufacturers grow their business by expanding their distribution network of retailers across India.
Also, the startup plans to build more products and scalable technologies centered around manufacturers in the footwear and fashion categories.
Formerly known as ShoeKonnect, Bijnis is a Delhi-based wholesale sourcing platform for retail businesses, founded in 2014.
Talking about this recent funding, Siddharth Vij, CEO and Co-founder of Bijnis, said,
“Traditional B2B supply chains are still largely unorganized and fragmented. There lies an immense opportunity in building a digital ecosystem around the same. Building the model for one category over the last three years has helped us understand the problems that lie at the core of unorganized supply chains.”