Bikayi Set To Raise $10-$11 Million In Series A Funding
Bikayi, a Hyderabad-based social e-commerce platform, is all set to raise fresh funds from new and existing investors, according to three people aware of the deal.
First reported by Entrackr, the funding round is led by Sequoia Capital, and the term sheet has been signed, as per one of the sources requesting anonymity. Another source added that the Hyderabad-based social e-commerce platform is likely to be valued at around $45 million in the Series A round.
“Bikayi is raising $10-11 million led by Sequoia Capital. The term sheet has been signed, and the deal is almost done.”
Bikayi- Whatsapp Integrated Ecommerce Store
Founded by Sonakshi Nathani and Ashutosh Singla in 2019, Bikayi is a social e-commerce platform empowering SMBs by enabling them with Whatsapp integrated eCommerce store.
The startup helps small businesses to quickly and simply create their online stores, providing them with all the essential tools they need to manage their eCommerce on WhatsApp.
It provides a digital storefront and features, including catalogue, wholesalers, manufacturers, retailers, payments for grocery stores and shipping to manage e-commerce via WhatsApp. The platform is popular among merchants hailing from small cities, and as per the startup, more than 53% of their merchants are from Tier III and IV cities.
In August 2020, Bikayi raised seed funding of $2 million from international investors, including Mantis ventures.
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