The startup which acts as the cross border e-commerce platform for consumer goods called BEYOBO has secured a funding of Rs. 6.7 crore in pre-Series A2 round. The company announced that, they were oversubscribed by 200%. The funding round was led by Indian Angel Network and the round also witnesses the participation of International Startup Foundation, SAN Angels along with prominent angels and HNIs (high networth individuals).

The startup said that, it will use up the capital to invite more foreign brands into Indian market and they also want to upgrade its technology platform. BEYOBO works as the gateway of foreign brands and sellers to expand their reach in the market.

About the process of fundraising, Anil Agrawal, CEO and Co-Founder, BEYOBO said, “We are not just creating a platform; we are building a category that will redefine how cross-border transactions are perceived and executed globally, backed by our own 20-year experience in the domain. Our sights are firmly set on achieving profitability as we gear up for a Series A round, and the future looks incredibly bright.”

The company said that, it is targeting to become multibillion-dollar B2B digital cross-border company in its category. The platform has doubled its revenue growth within past one year, offers a wide range of segment such as cosmetics, mobile and accessories, household goods, etc.

The Lead, of Indian Angel Network, Bikky Khosla said, “Our decision to invest in the last three rounds including the current one is a testament to our belief in the company’s potential and execution of their vision. We believe that BEYOBO is in a position to capitalize on its early mover advantage backed by an experienced team, which will lead them to capturing a sizeable market share in the cross-border e-commerce category.”