Sequoia leads $10.8 Mn Series A round in YC-backed Bikayi

WhatsApp integrated merchant e-commerce platform Bikayi has raised $10.8 million in its Series A round led by Sequoia Capital India.

Entrackr had exclusively reported about this round in May.

According to the Hyderabad-based startup, the funds will be used to ramp up its product development, acquisition and hiring talent.

Founded by Sonakshi Nathani and Ashutosh Sing, Bikayi provides a digital storefront and features including catalogue, shipping, payments for grocery stores, wholesalers, manufacturers and retailers to manage e-commerce via WhatsApp. According to the company’s website, more than 10 lakh businesses have utilised its free and paid features. 

The company claims to have over 4 million registered users on its platform. Its subscription plans range from Rs 417 to Rs 833 per month. 

Earlier in August 2020, Bikayi had raised $2 million in its seed round led by Mantis Ventures, Y Combinator and Pioneer Fund. 

Bikayi competes with Dukaan, Khatabook’s MyStore, Dot and OkCredit’s OkShop. It’s worth noting that Khatabook had recently scooped up $100 million in its Series C round.