fbpx

bijnis raises $30M in Series B round

bijnis funding

Bijnis, a B2B factories platform, announced that it has raised $30 million in a Series B round led by Westbridge Capital.

The round also saw participation from existing investors InfoEdge, Matrix Partners India, Sequoia India, and Waterbridge Ventures.

Speaking about the funding, Siddharth Vij, CEO and Co-founder, bijnis said, “bijnis’ vision is to take factories to the world by digitizing and building a globally integrated network of manufacturers on one platform. The manufacturers in the value chain have always been dependent on the middlemen/agents in many ways. bijnis is pioneering the transformation of the manufacturing landscape in India by providing access to tech-based solutions.”

The startup plans to use the freshly raised funds for expanding the manufacturers’ base and enabling them to grow their factories by expanding the retailer base on the platform. The funds will also be utilized for building out technology and products targeted at improving the production efficiency of factories.

Commenting on the investment, Sandeep Singhal, Partner, Westbridge Capital said, “We are excited to partner with bijnis team on their mission to create value for manufacturers by connecting them directly with retailers and helping them improve their operations and sourcing. The founding team has a very strong category understanding, given their family background in manufacturing, and that has enabled them to build a compelling proposition for manufacturers and retailers in the fashion and lifestyle categories.”

Siddharth stated that their uncomplicated and scalable operating systems enable the manufacturers to increase overall efficiency as they run capacities at an optimum level and have efficient raw material sourcing and capital capabilities.

“We feel privileged and excited to have Westbridge Capital on our journey of achieving bijnis vision of Taking factories to the world. At the same time, we are grateful to all our investors for the faith they have shown in our mission and the ability to execute towards it,” said Siddharth.

Established in 2015 by Siddharth, Chaitanya Rathi, Siddharth Rastogi, and Shubham Agarwal, bijnis strives to empower and uplift the community of manufacturers in India and take them to the world. 

Sudipto Sannigrahi, Vice President, Matrix India said “We are great believers of bijnis’ factory-first approach to help fashion and footwear manufacturers grow their business exponentially and discover efficiencies in their supply chains. The last 12 months have been transformational for bijnis, and the scale of growth achieved is a clear outcome of the focused investments in the factory product as well as the retailer’s reach. We’re excited to double down on our partnership with the bijnis team and look forward to the journey ahead.”

Kitty Agarwal, Partner, Info Edge Ventures said, “bijnis’ factory-first approach in the fashion, footwear, and lifestyle space has been a game-changer in building strong dependency of 5k+ Indian factories on its platform. Not only are these factories getting direct pan India retailer distribution with detailed visibility of buying behavior, but also digitizing their operations and sourcing raw materials more efficiently.”

Shraeyansh Thakur, Vice President, Sequoia India added, “Traditional supply chains in lifestyle categories in India continue to be extremely unorganized and fragmented. Small and medium manufacturers are the backbone of these supply chains, representing a significant part of India’s manufacturing economy, which is at the brink of massive transformation driven by rapid digitization across layers. The team is very excited about bijnis’s vision of building an operating system for manufacturing in this segment and looks forward to partnering with them on this mission.”

bijnis seems to have established a strong footprint in the market and is empowering several manufacturers through its platform. I’m sure the company will continue to succeed in its journey ahead. My best wishes to the team of bijnis.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com

Tags

top