Tech-enabled sourcing platform Bidso raises $1.5 Mn led by PeerCapital

Tech-enabled sourcing platform Bidso has raised $1.5 million led by PeerCapital with a $1.2 million investment as part of the seed round and a pre-seed amount of $300k by DeVC and other investors including Mohit Sadaani, Nishit Garg, OfBusiness Founders Fund, Saurabh Jain, and Revant Bhate.

The proceeds will be used for expanding geographies and demand channels, enhancing its curated network of manufacturers, and building out the technology stack, Bidso said in a press release.

Co-founded in 2022 by Ashwin Jain, Rahul Agarwal, Vivek Singhal and Aditya Krishnakumar, Bidso helps brands with finding the right product, the right suppliers, and the best price, while ensuring high standards of quality control, and transparent and efficient fulfilment. According to the company, it empowers businesses to streamline their sourcing processes and unlock the true potential of contract manufacturing through its tech platform.

Bidso will contribute towards the Make in India initiative by driving demand and improving the capabilities of Indian SME manufacturers while brands will find that discovery and sourcing of customised products. The platform says that it will curate only the best manufacturing partners into their network and will improve transparency and operational efficiency across the supply chain.