B2B cross border e-commerce platform BEYOBO has raised Rs 6.7 crore in its pre Series A2 round that was oversubscribed by 300%. The round has been led by Indian Angel Network and saw participation from International Startup Foundation, SAN Angels along with angels and HNIs.
The proceeds will be used to bring more international brands to the Indian market and tech platform upgrade.
Founded by Anil Agrawal, BEYOBO is an online marketplace where it acts as a gateway for Indian SMEs who want to import goods from other global markets. It also facilitates foreign brands and sellers who want to expand their reach in the Indian market, both online and offline.
The startup’s e-commerce platform claims to have doubled its growth over the last one year. The platform currently sells across several varieties including cosmetics, mobile and accessories, household goods and much more. The order fulfilment is executed by BEYOBO.
According to an industry report, the B2B e-commerce market in India surged to a staggering $18.2 billion in 2023, a significant leap from $5.6 billion in 2021.
