BEYOBO, a leading B2B cross-border e-commerce platform, has raised Rs 6.7 crore in its pre-Series A2 funding round, oversubscribed by 300%. The round was spearheaded by the Indian Angel Network, with participation from the International Startup Foundation, SAN Angels, various angel investors, and High-Net-Worth Individuals (HNIs).
The funds will primarily be allocated to expanding the platform’s reach by introducing more international brands to the Indian market and upgrading its technological infrastructure.
Founded by Anil Agrawal, BEYOBO is an online marketplace that facilitates the import of goods from global markets for Indian SMEs. It also facilitates foreign brands and sellers aiming to penetrate the Indian market, both online and offline.
The platform has grown exponentially over the past year, doubling its reach and sales. BEYOBO offers a diverse range of products, including cosmetics, mobile and accessories, household goods, and more. Order fulfilment is managed seamlessly by BEYOBO, ensuring a smooth transaction process for both buyers and sellers.
According to industry reports, the B2B e-commerce sector in India has experienced remarkable growth, with the market soaring to $18.2 billion in 2023 from $5.6 billion in 2021. This surge underscores the immense potential of platforms like BEYOBO, which bridge the gap between domestic demand and global supply, fostering economic growth and innovation in the Indian market.
