Based in Hyderabad, Andhra Pradesh, Bikayi is a social e-commerce platform that allows merchandisers to create their online channel & communicate with subscribers in real-time. It has raised US$ 10.8 million in a Series A funding round led by Sequoia Capital India today, on September 3 2021. This capital comes 12 months after the company received US$ 2 million from the investor club of US-based VC firms.
With more than 4 million registered users on the platform, Bikayi helps them sell their products across India and stand tall in the constantly evolving online commerce industry. Bikayi claims that its merchant base has grown 5x over the last eight months, and annual gross merchandise value has grown 1800 per cent.
Fund Utilisation
Bikayi will use the funds to accelerate product development, acquisition, scale its product offerings, and talent hiring.
What the CEO has to say
Co-founder and CEO of Bikayi, Sonakshi Nathani, said, “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. We are on a mission to fulfil the aspirations of millions of small businesses that drive our economy. Some merchants have made more than a million dollars via Bikayi e-stores in the span of a year. Such stories keep us obsessed to do better for our customers every single day.”
What the Investor has to say
Vice President of Sequoia Capital India, Shraeyansh Thakur, said, “India is on the cusp of an e-commerce revolution, and we believe small and medium businesses (SMBs) will play a pivotal role in shaping this landscape over the next decade. India is home to over 75 million SMBs, which account for over 30 per cent of India’s GDP, employ over 130 million, and form the backbone of the economy.”
He added, “Rapid digitisation of SMBs and the deepening of the e-commerce ecosystem are huge trends in India. Bikayi is building a next-gen product that sits at the confluence of both these trends, integrating the entire infrastructure of commerce onto one single platform.”
About Bikayi
Established in 2019 by IIT alumni Ashutosh Singla and Sonakshi Nathani Bikayi is a social e-commerce platform that allows merchandisers to create their online channel & communicate with subscribers in real-time. The two-year-old startup offers features like store setup, 24-7 help and graphic design. It supports the companies to help them grow by providing them with a digital storefront, professional features, and tools. Few more features that Bikayi renders include a dedicated business coach, catalogue listing, shipping facility, payments, and insights on customer behaviour to manage their e-commerce stores through a single platform. To know more, visit https://app.bikayi.com/.
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