DJ duo Chainsmokers spins out first India bet
Photo Credit: VCCircle

Comida Technologies Pvt Ltd, which operates online storefront-enabling platform Bikayi, has raised $2 million (Rs 14.7 crore) in funding.

One of them was Mantis Ventures, promoted by members of musical group The Chainsmokers, said a release. 

Other participants in the round include Y Combinator, Pioneer Fund, and angel investor Ankur Nagpal.

The investment marks the $50 million Mantis Ventures’ first bet on an Indian startup. The investment firm was set up by musicians Alex Pall and Drew Taggart. 

Bikayi is among the 14 Indian startups selected to be a part of Y Combinator’s Summer 2020 batch.

It was founded last year by Sonakshi Nathani and Ashutosh Singla. The startup says it aims to provide end-to-end solutions for merchants looking to set up and run their online businesses. 

VCCircle has reached out to the company on this fundraise and will update this report accordingly.

The startup will use the capital it has raised to hire talent as well as accelerate product development and scale up its platform with the aim of onboarding at least one million merchants.

“Bikayi’s founders combine a deep understanding of their small business customers with top-tier product execution,” Pioneer Fund general partner Tim Suzman said.

Other startups in the e-commerce-enabling ecosystem include Shoptimize. In June, VCCircle exclusively reported that the firm was set to raise funding from a Silicon Valley-based venture capital firm and the founder of a technology services firm.

Another startup in the space is Anchanto. In July 2018, the Singapore- and Pune-based firm raised $4 million (Rs 27 crore) as part of the first close of its Series C round from MDI Ventures, the corporate VC arm of Indonesia-based telecommunications major Telkom Indonesia.

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