WhatsApp integrated merchant e-store platform Bikayi has raised $10.8 million in Series-A funding round, led by Sequoia Capital India. In August last year, the startup had raised $2 million as a part of its seed round led by Y Combinator. fresh funds will be used to accelerate product development, acquisition, and talent hiring the company 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,” Bikayi’s co-founder and (CEO) Nathani said.
Based in Hyderabad Bikayi was founded in the year 2019 by IIITians Ashutosh Singla, Sonakshi Nathani. for empowering SMBs enabling them with Whatsapp E-Commerce and a social e-commerce platform that allows merchandisers to create their online channel & communicate with subscribers in real-time. The company offers professional features and tools to help these small businesses grow. These features include a dedicated business coach, catalog listing, shipping facility, payments, and insights on customer behavior.
“India is on the cusp of an e-commerce revolution, and we believe small and medium businesses 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% of India’s GDP, employ over 130 million, and form the backbone of the economy,” said Shraeyansh Thakur, Vice President, Sequoia Capital India,
Bikayi provides features such as catalog, shipping, payments for grocery stores, wholesalers, manufacturers, and retailers to manage e-commerce via WhatsApp. According to the company’s website, more than 10 lakh businesses have utilized its free and paid features.
The company claims to have over 4 million registered users on its platform. Its subscription plans range from Rs 417 to Rs 833 per month.