Bijnis, a platform that puts factories and direct manufacturers directly in touch with retailers, has raised $30 million (Rs 220 crore) as a part of its Series B round led by WestBridge Capital.
The round also saw existing investors Info Edge, Matrix Partners India, and Sequoia Capital India, among others.
Bijnis will be using the funds to increase its network of retailers and direct manufacturers on its platform. The company will also be utilising the funds to create newer tools for helping factories solve problems related to operations and supply chain management more efficiently.
The six-year platform provides a digital platform for factories and direct manufacturers, helping them procure demand directly from retailers, as well as helping them manage logistics and payments.
“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 or agents in many ways. Bijnis is transforming the manufacturing landscape in India by providing access to tech-based solutions,” said Siddharth Vij, chief executive officer and co-founder of Bijnis.
The platform is currently focused on manufacturers and small and medium enterprises operating in fashion, footwear and lifestyle categories.
Vij added that while the company is currently focused on growing its base of direct manufacturers and factories, it will also look to launch new product tools for factory management next year.
Bijnis at present works with over 5,000 manufacturers and factory owners, and helps them source demand from more than one lakh small retailers. It plans to grow this number to over 20,000 manufacturers and 10 lakh retailers in the next two years.
“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,” said Sudipto Sannigrahi, vice-president of Matrix India.
In the next two years, Bijnis will also be focusing on procuring demand from international geographies for its manufacturing partners.
