Hyderabad-based B2B startup Bikayi will use the investment to lease more talent to boost up product development, ramp up the platform, and onboard 1,000,000 new traders.
Y Combinator-subsidized B2B startup Bikayi, which gives free WhatsApp-incorporated ecommerce store setup with price gateways and order tracking, has raised a seed spherical of $2 million from a grab of worldwide traders, including Mantis ventures, a VC fund promoted by the famous band Chainsmokers.
Mantis is a $50 million VC fund that invests in startups and that is their first funding in an Indian entity. Other traders include YC, Pioneer Fund, angel investor Ankur Nagpal, and others.
Ankur Nagpal said, “Bikayi is the company I am most excited about in the entire YC batch. They have a tremendous opportunity to become the storefront of choice for the millions of small local businesses in India — and eventually the entire developing world. They make commerce both local and personal, which is integral for success in India, and their growth numbers speak for themselves.”
Bikayi Co-founder Sonakshi Nathani stated the startup will use those finances to lease extra skills to boost up product development, ramp up the platform, and onboard 1,000,000 new traders.
Merchants on Bikayi are already doing every day transactions of over Rs 2 crore. The startup is being utilized by grocery shops, wholesalers, manufacturers, and shops from 3,000+ cities throughout India.
Founded in 2019 by Sonakshi Nathani and Ashutosh Singla, Bikayi claims to have emerge as a one-stop solution for traders if they need to begin and run an online business. It permits small organizations to quickly create their on-line shops and provide them the proper gear to control ecommerce on WhatsApp. The app is to be had on Google Play Store.
According to the Hyderabad-based startup, more than fifty three percentage in their traders are coming in from Tier III and IV cities.
“Bikayi’s founders combine a deep understanding of their small business customers with top-tier product execution. We loved that their product makes everyone’s lives easier, while fitting naturally into the way business is done. The resulting growth has been phenomenal. It’s an honour for us to back this team and their vision,” stated Tim Suzman, General Partner at Pioneer Fund.
