Bikayi, Hyderabad Startup Raises $10.8 Mn in Series A Round By Sequoia India.8 months ago Rituka M
Bikayi, a Hyderabad Startup that is a Whatsapp-enabled e-commerce platform for Small-Medium businesses raised $10.8 Million in its Series A round led by Sequoia Capital India. The Hyderabad-based startup plans to use this capital towards product development, talent hiring & acquisitions.
Bikayi raised $2 Million from Y-Combinator in its seed round in August 2020 and has over 4 Mn registered users. Over the last 8 months, the merchant base has grown over 5x and GMV at 18x. Enabling the SMEs to scale digitally, Bikayi has been helping expand its user base.
Speaking on the investment, Sonakshi Nathani, Co-founder & CEO, Bikayi, 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 fulfill the aspirations of millions of small businesses that drive our economy. Such stories keep us obsessed to do better for our customers every single day.”
Shraeyansh Thakur, Vice President, Sequoia Capital India, added, “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 percent of India’s GDP, employ over 130 million, and form the backbone of the economy. Rapid digitization of SMBs and the deepening of the e-commerce ecosystem are huge trends in India, and Bikayi is building a next-gen product that sits at the confluence of both these trends, integrating the entire infrastructure of commerce onto one single platform.”