- Sequoia-backed agritech startup raised $11.8 Mn for growth and to strengthen its technology
- Gurugram- based company was founded in 2019 to provide B2B trade platform for agriculture sector
Bijak, a B2B trade platform for the agricultural sector, said it is raising $11.8 million in its Series A round from its existing investors, including Omnivore Partners, and Tempo Ventures, Bi Fund, among others. The company was founded by Nukul Upadhye, Mahesh Jakhotia, Jitender Bedwal, Daya Rai, and Nikhil Tripathi in 2019.
Earlier, it had raised $2.5 million from Omnivore Partners, Omidyar Network India, Sequoia Capital India’s rapid scale-up programme – Surge, and Better Capital. Sequoia Capital had also shortlisted Bijak as one of the 20 early-stage startups from India and Southeast Asia for the second cohort of its Surge Accelerator Programme.
The company will utilize these funds in business growth and strengthen its technology.
In an earlier conversation Co-Founder Nukul had said,
“Focused on addressing challenges such as accountability and trust in the B2B agri commodity trade, we are targeting a $200 billion market in India, which has almost five million plus middlemen. Additionally, we have customized the app for agricultural commodity traders, with terminologies used in the mandis (wholesale markets) that they are familiar with.”
Bijak is a B2B trade platform for the agricultural sector in India that enables traders, wholesalers and food processors to keep a ledger of their transactions, access transparent pricing, optimize logistics and improve their working capital cycles.