Beyobo raises Rs 5.5 Cr in pre-Series A round led by IPV

B2B commerce enabler Beyobo has raised Rs 5.5 crores in a pre-Series A round led by Inflection Point Ventures. SAN Angels, Indian Angel Network and Hyderabad Angels also participated in this round, along with several other individual angels.

The firm plans to use the funds towards technology enhancement, supply enhancement, and for demand generation, Beyobo said in a press release.

Founded by  Anil Agrawa, Beyobo focuses on beauty and personal care, consumer electronics, and fashion accessories. The startup claims to have gained significant traction, serving over 35,000 retailers, and generating around Rs 95 crore in revenue in FY23. However, the firm has not filed its FY23 audited numbers.

The brand plans to expand into additional categories and incorporate predictive analysis and personalized cataloguing features to enhance the customer experience.

Angel investment firm Inflection Point Ventures (IPV) has invested in over 20 early-stage startups in H1 2023, according to data compiled by Fintrackr. The list includes BharatNXT, Raaho, LoanKuber, Aksum, Tummoc, Crest, ixamBee, Cognecto and Shipturtle. among others.