New Delhi, Apr 24 (PTI) Bijak, a B2B platform for agricultural commodities, on Friday said it has raised USD 12 million (Rs 91 crore) from investors including RTP Global to enhance its technology team and roll out new features.
In the Series-A round, led by RTP Global, the company said that its existing investors Omnivore, Omidyar Network India, Sequoia Capital India’s Surge, and Better Capital also participated.
Bijak previously raised a USD 2.5 million Seed round in December 2019 from Omnivore, Omidyar Network India, Surge, and Better Capital.
Gurugram-based Bijak is a platform that gives agricultural commodity buyers and sellers better prices, increased working capital, and optimised logistics.
It aims to bring accountability and transparency into the agricultural value chain through a buyer/seller rating system, and enables traders, wholesalers, and food processors to discover new and reliable trade partners.
Commenting on the fund-raising, Nukul Upadhye, Co-Founder of Bijak, said, “This funding would help us scale our technology team and roll out new features.”
The startup was launched in April 2019 by Nukul Upadhye, Mahesh Jakhotia, Jitender Bedwal, Daya Rai and Nikhil Tripathi.
In one year, it has scaled to 22 states, 90 commodities, and USD 150 million in annualised gross merchandise value.
Thousands of buyers and sellers across more than 500 locations use the Bijak platform to transact everyday. The company collaborates with all the existing players in the value chain including Agricultural Produce Market Committee traders, institutional buyers, and other agritech startups.