Bijak, a business-to-business (B2B) agricultural-based trading platform, has raised Rs. One hundred forty-three crores as a part of Series B funding. The funding round was led by Bertelsmann, reported by regulatory filing. These Fresh funds have been raised after a gap of 20 months by Gurugram based startup Bijak.
Bijak is a three-year-old B2B trade platform for the agricultural sector, founded and launched by Nukul Upadhya, JitenderBedwal, Daya Rai, Mahesh Jakhotia, and Nikhil Tripathi. Bijak as a platform enables traders, wholesalers, and food processors to keep a ledger of their transactions and records. This helps them get a better overview of their transactions and helps them maintain records. All this assists the company in accessing with transparent pricing, logistics, and loans.
Bijak is present in over 27 states across the country, including Maharashtra, Uttar Pradesh, Madhya Pradesh, Punjab, and Bihar. Besides all this, Bijak Deals in 110 different commodities across the country.
Bijak has approved the distribution of its 393 equity shares and has listed 2350 series B preference shares (CCCPS) in order to raise Rs. 144 crores ($20 Million) from 5 major investors, Filing shows.
Bertelsmann alone invested $13million with other investors like Omidyar investing $3million and Global Advisors Investing a little over 2 million. As per the estimates of Fintreckr, Bijak has raised fresh funds a post-money evaluation of Rs.1225 crore or $163 million. The company is currently valued at 482 million during the series A of funding round.