In a major move, Hyderabad-based startup Bikayi has raised a seed round of $2 million from a clutch of international investors. The Hyderabad-based startup helps small merchants create online storefronts and accept orders online. The merchants using the platform are already doing business worth Rs 2 crore. The platform is being used by wholesalers, retailers, grocers and others, especially in tier 3 and 4 cities.
Mantis is a $50 million VC fund to invest in startups and this is their first investment in an Indian entity. Other investors who participated in the round include YC, Pioneer Fund, angel investor Ankur Nagpal among others.
“The investors are a part of upscaling Bikayi, with these funds we will hire more talent to accelerate product development, ramp up the platform and onboard a million new merchants,” said Sonakshi Nathani, cofounder, Bikayi.
Bikayi allows small businesses to quickly create their online stores and give them the right tools to manage e-commerce on Whatsapp.
Founded in 2019 by Sonakshi Nathani and Ashutosh Singla, Bikayi claims to have become a one-stop solution for merchants if they want to start and run an online business.