BENGALURU: Bijnis, a business-to-business (B2B) platform for manufacturers, has raised a Series B round of $ 30 million (approximately ₹ 222 crore) led by Westbridge Capital. The round also featured the participation of existing investors InfoEdge, Matrix Partners India and Sequoia Capital India, Bijnis said on Monday.
Bijnis will use the capital to grow its customer base comprising retailers and manufacturers, as well as create more efficient tools to help manufacturers better manage their operations and supply chains.
Bijnis, which was founded in 2015 by Siddharth Vij, Siddharth Rastogi, Shubham Agarwal and Chaitanya Rathi, connects factories and manufacturers, and seeks to help them source raw materials directly, as well as manage logistics and payments.
“(Bijnis seeks to) bring factories to the world by digitizing and building a globally integrated network of manufacturers on one platform. Our simple and scalable operating systems help manufacturers improve overall efficiency as they run capabilities at optimal levels,” said Vij. , CEO of Bijnis.
The startup serves manufacturers and small businesses in the fashion, footwear and lifestyle sectors.
While Bijnis is focusing on increasing its manufacturer base and direct factories, it will also look to launch new product tools for factory management next year, Vij added.
“Bijnis has carved out a niche as the B2B platform of choice in these categories and we are excited to be partners as they transform the ecosystem for these categories in India,” said Sandeep Singhal, Partner at Westbridge Capital.
Bijnis has more than 5,000 registered manufacturers and factory owners. It helps them meet the demand of more than 100,000 small retailers. Its goal is to attract 20,000 manufacturers and 1 million retailers in the next two years.
“The past 12 months have been transformative for Bijnis, and the scale of growth achieved is a clear result of the factory’s product-focused investments as well as the reach of the retailer,” said Sudipto Sannigrahi, Vice President of Matrix India.
Over the next two years, Bijnis will also focus on acquiring demand from international markets for its manufacturing partners.
Bijnis had raised its $ 10 million Series A round co-led by Matrix Partners India and Sequoia Capital India in July 2020.
The startup had also announced a secondary sale of shares, with the company’s early investors selling their shares.
New investors who bought the company included Zomato boss Deepinder Goyal, Policybazaar CEO Sarbvir Singh, and Ofbusiness founder Asish Mohapatra, among others.
