B2B platform bijnis raises $30 mn in Westbridge Capital-led funding round

bijnis, a business-to-business platform for factories, has raised $30 million (about Rs 220 crore) in a Series B funding round led by investment firm Westbridge Capital. Existing investors InfoEdge, Matrix Partners India, Sequoia Capital and Waterbridge Ventures also participated in the funding round.
 
bijnis works with unorganised manufacturing industries with an aim to make them faster and cost effective by digitising factories.
 
The company will use the funds raised primarily towards expanding the base of manufacturers and helping them grow their factories via expanding retailer base on the platform. "Additionally, this infusion of capital will be used for building out technology and products focused on increasing the production efficiency of the factories," it said in a release.
 
"bijnis' vision is to take factories to the world by digitising and building a globally integrated network of manufacturers on one platform. The manufacturers in the value chain have always been dependent on the middlemen/agents in many ways. bijnis is pioneering the transformation of the manufacturing landscape in India by providing access to tech-based solutions," bijnis CEO and co-founder Siddharth Vij said.

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The company's simple and scalable operating systems help the manufacturers to improve overall efficiency as they run capacities at optimum level, have efficient raw material sourcing and capital capabilities, he added.
 
Founded in 2015 by Vij, Chaitanya Rathi, Siddharth Rastogi and Shubham Agarwal, bijnis operates in the unorganised categories of fashion, footwear and lifestyle. Currently, over 5,000 manufacturers run their business on the 'bijnis factory app'.
 
The app builds digital factory profiles that enables small, medium and large manufacturers to expand their businesses. It gives them direct access to retailers and enables them to build their own distribution channels. It connects these manufacturers with over 1 lakh retailers.
 
"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 reach," Matrix India Vice President Sudipto Sannigrahi said.

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