SaaS-based distribution technology solutions provider for consumer companies, Mobisy has raised $3.5 million led by SIDBI Venture Capital Limited (SVCL). The Bengaluru-based company also saw participation from existing investor Ojas Partners, Triton Investment Advisors along with a few high net worth individuals (HNIs).
The fresh funding will be used for research, development and to power expansion plans through sales and marketing.
During its bridge round funding of $380,000 in March 2017 led by Ojas, the startup was reportedly in talks to close a $5-million Series A round. In 2013, Ojas infused $300,000 seed fund in Mobisy.
Founded in 2007 by Lalit Bhise, Mobisy delivers real-time insights for driving greater distribution efficiency that helps organizations to grow. It claims to enable orders from over 5 million retail outlets.
Mobisy offers two products- Bizom, a sales force and supply chain automation solution and Distiman, a mobile app that connects retailers to FMCG brands and ensures just-in-time stocking, enabling retailers to rotate invested capital faster and double their profits.
The company has been working with close to 250 brands in India and has enabled their distributor systems to use technology. The technology helped agents of distributors to capture data of products sold and unsold on smartphones from local kirana stores.
In its clientele base, Mobisy counts international brands such as Nivea, Hershey’s and Mars as well as Indian brands such as Parle Agro, Hersheys, Mars, Jyothy Labs, Cargill, Vadilal and Nivea among others.
In similar space, the startup competes with ShopKirana and Shotang, and several others.
The development was reported by ET.