Bijnis, a B2B marketplace for manufacturers, has raised $30 million in a Series B financing round led by Westbridge Capital. The new financing round also saw participation from existing investors InfoEdge, Matrix Partners India, Sequoia Capital India, and Waterbridge Ventures.
The New Delhi-headquartered company will utilise the investment to to expand the base of manufacturers on its platform from the current 5,000, generating demand by expanding the retailer base, product development and expanding the team.
Founded by Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi and Shubham Agrawal in 2015, Bijnis aims to revolutionise unorganised manufacturing industries by digitising factories.
The company runs an eponymous mobile app that Vij that enables retailers to purchase goods directly from factories, thus eliminating the hassle of price negotiations, quality assurance and payment security.
“(Bijnis seeks) to take factories to the world by digitizing and building a globally integrated network of manufacturers on one platform. Our simple and scalable operating systems help manufacturers to improve overall efficiency as they run capacities at optimum levels,” said Vij, chief executive, Bijnis.
The founding team of Bijnis comes from a deep manufacturing background and has successfully leveraged its past experiences to solve the factory’s demand generation needs and operating inefficiencies.
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.”
