The Hyderabad-based Y Combinator-backed Bikayi offers free WhatsApp integrated ecommerce store setup. The setup also has payment gateways, order tracking, and more. The startup has raised 2 million USD in its seed round of funding. Various international investors participated in the financing round, including Mantis ventures.
The popular band Chainsmokers promote this VC fund, Mantis Ventures (1). It is a 50 million USD firm that invests in startups. It is their first investment in an entity of India. Some of the other investors included YC, Pioneer Fund, angel investor Ankur Nagpal, and others. The B2B firm will use the funding to expedite its product development, incline the platform, hire more talent, and bring a million new traders, said Sonakshi Nathani.
Bikayi Allows Quick Solutions for e-Commerce to Merchants.
In the entire YC batch, the company Bikayi is the most exciting one, stated Ankur Nagpal. He added that the startup has enormous opportunities. Millions of small Indian local businesses may choose the firm as their storefront. The company has a potential turn itself a storefront for the developing world. Bikayi has made the commerce both personal and local, and such integral is most likely to succeed in India. We can see it from their numbers for growth.
Traders on Bikayi are doing daily transactions of approximately 2 crore INR. Many grocery store owners, wholesalers, manufacturers, and retailers use the platform from over 3,000 towns from all around India. Ashutosh Singla and Sonakshi Nathani founded the platform in 2019. The B2B startup is considering itself a one-stop solution for traders looking to start and run their online business. Bikayi quickly allows users to create their online stores. The platform also provides the right tools to the merchants so they can manage their ecommerce on WhatsApp. The Bikayi app is available on the Play Store. As per the startup, over 50% of their traders are from Tier-III and Tier-IV cities.
Author: Rucha Joshi
Source : https://timesnext.com/b2b-startup-bikayi-raises-2-million-usd-from-mantis-ventures/
Date : 2020-08-31T07:56:36.000Z