Info Edge becomes the largest shareholder in B2B e-commerce startup Bijnis
Info Edgehas invested ₹10 crore in the B2B e-commerce platform Bijnis.
- The startup has raised a total of ₹64 crore from Sequoia, Matrix and existing investors Info Edge and WaterBridge Ventures.
- The five-year old startup Bijnis is a B2B marketplace for unorganized markets and allows retailers to purchase directly from the source.
AdvertisementInfo Edge, one of India’s earliest internet companies, has invested ₹10 crore in the B2B e-commerce platform Bijnis. The startup has raised a total of ₹64 crore from Sequoia, Matrix and existing investors Info Edge and WaterBridge Ventures.
The five-year old startup Bijnis is a B2B marketplace for unorganized markets and allows retailers to purchase directly from the source. The startup claims to have over 400 manufacturers and 40,000 sellers on its platform.
With the investment, Info Edge, which had first invested in the startup in 2018, will get a 28.2% share in the startup.
“Bijnis aims to build an all round one app solution for manufacturers from building their distribution to helping them with finance, production automation, etc,” said the regulatory filing by Info Edge.
Info Edge, the $5 billion company which runs Naukri.com, Jeevansaathi.com, 99acres.com and Shiksha.com, has backed unicorns like Zomato and Policybazaar. Earlier in June it had announced that the company would raise ₹1,875 crore through Qualified institutional placement i.e. selling new equity shares to big institutions.
The company has also recently set up an Alternate Investment Fund to invest in startups with a proposed fund of $100 million. However, the investment in Bijnis is through Info Edge limited.
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