B2B factories platform Bijnis has said it has raised $30 million in a Series B funding round led by Westbridge Capital. This financing round has also seen participation from existing investors InfoEdge, Matrix Partners India, Sequoia Capital India and Waterbridge Ventures.
Bijnis will use the new investment to expand the manufacturers base on its platform from the current 5,000, expand the retailer base, product development and team to generate demand. “The vision of Bijnis is to take factories to the world by digitizing and building a globally integrated network of manufacturers on a single platform,” said Siddharth Vij, CEO and Co-Founder of the company.
Siddharth Vij further added, “Producers in the value chain have always been dependent on intermediaries/agents in various ways. The business is leading the transformation of the manufacturing landscape in India by providing access to technology-based solutions. He further added, ‘We are grateful to all our investors for what they have shown in our mission and ability to execute’.
The Eponymous app from Bijnis enables retailers to buy goods directly from factories, thus eliminating the hassle of price negotiation, quality assurance and payment security. The company aims to empower and uplift the community of Indian manufacturers and take them to the world.