UditBijnis, a technology-based platform has now revealed that it has secured $10 million in a Series A funding round of investment backed by the Matrix Partners India and Sequoia Capital India, along with the existing investors WaterBridge Ventures and InfoEdge.
With the help of the latest funding round, Bijnis will continue to help manufacturers grow their business by expanding their distribution network of retailers across India.
The infusion of capital will be used to build more products and scalable technologies focused on manufacturers in the footwear and fashion categories.
Speaking on securing the new investment, Siddharth Vij, CEO and Co-founder of Bijnis, said,
“Traditional B2B supply chains are still largely unorganised and fragmented. There lies an immense opportunity in building a digital ecosystem around the same. Building the model for one category over the last three years has helped us understand the problems that lie at the core of unorganised supply chains. We believe we are on the right track and positioned to expand and revolutionise the traditional B2B ecosystem around the fashion and lifestyle categories.”