E-commerce platform Bikayi raises $10.8 million in Series-A funding led by Sequoia Capital India
Hyderabad based Bikayi, a mobile-commerce enabler, has raised $10.8 million in a Series-A funding round, led by Sequoia Capital India.
The startup aims to use the fresh funds to accelerate acquisition, product development and talent hiring.
“Our vision is to empower every small business to win in the emerging online market by providing them with affordable tools, helping them achieve unimaginable goals,” said Sonakshi Nathani, co-founder and CEO, Bikayi.
“India is on the cusp of an e-commerce revolution, and we believe small and medium businesses will play a pivotal role in shaping this landscape over the next decade. India is home to over 75 milion SMBs, which account for over 30% of India’s GDP, employ over 130 million, and form the backbone of the economy,” said Shraeyansh Thakur, Vice President, Sequoia Capital India.
Bikayi was founded in 2019 by IIITians Sonakshi Nathani and Ashutosh Singla. The startup provides businesses with a digital storefront, professional features and tools to develop them. It also enables the small and medium-sized businesses (SMBs) to grow up on digital paltforms. Bikayi provides features like catalogue listing, payments, a dedicated business coach, shipping facility and information on customer behaviour. This helps them to manage their e-commerce in a better way.
In August 2020, Bikayi had raised $2 million as a part of its seed round led by Y Combinator.
“With its merchant base growing at 5x over the last eight months, Bikayi’s annual Gross Merchandise value (GMV) has grown 1800% alongside. The company currently has more than 4 million+ registered users on the platform,” it said.
“Rapid digitalization of SMBs and deepening of the e-commerce ecosystem are huge trends in India and Bikayi is building a nextgen product that sits at the confluence of both these trends, integrating the entire infrastructure of commerce onto one single platform,” said Thakur.
The startup aims to use the fresh funds to accelerate acquisition, product development and talent hiring.
“Our vision is to empower every small business to win in the emerging online market by providing them with affordable tools, helping them achieve unimaginable goals,” said Sonakshi Nathani, co-founder and CEO, Bikayi.
“India is on the cusp of an e-commerce revolution, and we believe small and medium businesses will play a pivotal role in shaping this landscape over the next decade. India is home to over 75 milion SMBs, which account for over 30% of India’s GDP, employ over 130 million, and form the backbone of the economy,” said Shraeyansh Thakur, Vice President, Sequoia Capital India.
Features like addition of new languages and making realtime pledge margin possible is just a beginning.
Bikayi was founded in 2019 by IIITians Sonakshi Nathani and Ashutosh Singla. The startup provides businesses with a digital storefront, professional features and tools to develop them. It also enables the small and medium-sized businesses (SMBs) to grow up on digital paltforms. Bikayi provides features like catalogue listing, payments, a dedicated business coach, shipping facility and information on customer behaviour. This helps them to manage their e-commerce in a better way.
In August 2020, Bikayi had raised $2 million as a part of its seed round led by Y Combinator.
“With its merchant base growing at 5x over the last eight months, Bikayi’s annual Gross Merchandise value (GMV) has grown 1800% alongside. The company currently has more than 4 million+ registered users on the platform,” it said.
“Rapid digitalization of SMBs and deepening of the e-commerce ecosystem are huge trends in India and Bikayi is building a nextgen product that sits at the confluence of both these trends, integrating the entire infrastructure of commerce onto one single platform,” said Thakur.
