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Bikayi is in talks to lift about $50 million in a brand new financing spherical, 4 folks conversant in the matter informed me, because the Indian startup seems to be to scale its platform that helps small companies arrange and run their e-commerce shops.
Tiger International and Sequoia Capital India are holding conversations with the Indian startup to steer its Collection B spherical, the sources stated, requesting anonymity because the deliberations are ongoing and personal. Sequoia Capital India, which led Bikayi’s $10.8 million Collection A funding in September final 12 months, is positioning to steer the spherical, two sources stated.
Spokespeople for Bikayi, Sequoia Capital India, and Tiger International declined to remark.
Bikayi permits companies to collate and fulfil orders from varied on-line and offline sources and settle for fee digitally. Its platform additionally helps companies arrange their e-commerce shops on WhatsApp and likewise launch their very own apps that they’ll distribute to prospects.
The startup moreover maintains partnerships with supply companies to assist companies ship merchandise to prospects. As one among its buyers describes it, Bikayi is “constructing a robust software that integrates your complete infrastructure of commerce onto one single platform.”
A number of of Bikayi’s choices can be found to companies at no cost. Nevertheless it takes a small payment in the event that they want to broaden their on-line product catalogs, it says on its web site.
“Your entire platform has been designed to allow straightforward integration with different functions to make it a single dashboard for all the pieces the retailers want. It’s much more thrilling to see the impression their product is having on small companies – and the nation’s employment charge,” wrote Shraeyansh Thakur, a principal at Sequoia Capital India, in a weblog publish final 12 months.
Scores of companies, together with Reliance Retail (the nation’s largest retail chain), e-commerce big Amazon in addition to startups resembling Nexus Enterprise Companions-backed Jumbotail, Tribe Capital-backed Khatabook and Lightspeed Enterprise Companions-backed Dukaan, are serving to retailers — typically in related but in addition their very own distinctive methods — digitize their companies and attain extra prospects.
DotPe, one other startup working within the house, has amassed over 9 million prospects and is clocking $4 million in ARR, in accordance with an investor deck dated final month and reviewed by TechCrunch. The startup, which counts Google and Information Edge amongst its backers, has facilitated over 26 million transactions, it revealed within the investor deck.
ElasticRun, which helps a whole lot of hundreds of neighborhood shops throughout a whole lot of Indian cities and cities safe stock and dealing capital, is in talks with SoftBank to lift about $200 million at a $1 billion valuation, TechCrunch reported earlier this month.
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