Social E-commerce Platform Bikayi Raises $10.8M In Series A Funding Round
Bikayi, a Hyderabad-based social e-commerce platform, has raised $10.8 million in a Series A funding round led by Sequoia Capital India.
As per the startup, the raised funds will be used to accelerate product development, acquisition, and talent hiring.
Started by IITians Sonakshi Nathani and Ashutosh Singla in 2019, Bikayi is a social e-commerce platform simplifying e-commerce for everyone and empowers small and medium-sized businesses (SMBs) by enabling them with Whatsapp E-Commerce.
Speaking about the development, Sonakshi Nathani, Co-founder and CEO of Bikayi, said,
“Our vision is to empower every small business to win in the emerging online market by providing them with affordable tools, helping them achieve unimaginable goals. We are on a mission to fulfil the aspirations of millions of small businesses that drive our economy. There are merchants who have made more than a million dollars via Bikayi e-stores in the span of a year. Such stories keep us obsessed to do better for our customers every single day.”
Bikayi helps SMBs scale up on digital platforms and provides businesses with a digital storefront, professional features, and tools to help them grow. Offering features like catalogue listing, shipping facility, dedicated business coach, payments, and insights on Customer Behaviour, the startup enables SMBs to manage their e-commerce stores through a single platform.
With more than 4 million+ registered users on the platform, the mobile e-commerce enabler claims that its merchant base has been growing at 5x over the last eight months.
In August 2020, Bikayi had raised a seed funding round of $2 million from international investors.
Shraeyansh Thakur, VP at Sequoia Capital India, stated that the rapid digitisation of SMBs and the deepening of the e-commerce ecosystem are huge trends in India. She added that as Bikayi is building a next-gen product, the startup sits at the confluence of both these trends, integrating the entire infrastructure of commerce onto one single platform.
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