Comments
Mobile e-commerce start-up Bikayi raised $10.8 million in Series-A funding round led by Sequoia Capital India. Earlier in August 2020, the company raised $2 million as a part of its seed round of funding led by Y Combinator.
With the aim to scale up product offerings, the company plans to use this capital to accelerate product development, acquisition, and talent hiring. Founded in 2019 by Sonakshi Nathani and Ashutosh Singla, Bikayi is a Whatsapp-integrated platform that provides businesses with a digital store-front, professional features, and tools to help them grow.
Support small businesses
Some of the features include a dedicated business coach, catalogue listing, shipping facility, payments, and also insights on customer behaviour to manage their e-commerce stores through a single platform.
Sonakshi Nathani, Co-founder and CEO, 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.”
Also see: Meet the 31 start-ups most likely to become unicorns soon
Shraeyansh Thakur, Vice President, Sequoia Capital India, said, “India is on the cusp of an e-commerce revolution and we believe small and medium businesses (SMBs) will play a pivotal role in shaping this landscape over the next decade. India is home to over 75 million SMBs, which account for over 30 per cent of India’s GDP, employ over 130 million, and form the backbone of the economy.”
Bikayi claims that its merchant base has grown 5x over the last eight months and annual gross merchandise value has grown 1800 per cent. The company currently has more than 4 million registered users on the platform. Bikayi is helping them sell their products across India and stand tall in the constantly evolving online commerce industry.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.