Bijnis Raises $30M to Digitize Indian Manufacturers

The Rise of Digital Connectivity for Indian Manufacturers

The widespread availability of inexpensive and high-speed mobile data has brought online access to hundreds of millions of individuals in India over the last ten years. However, significant portions of the South Asian nation’s economy continue to operate with limited digital integration.

Addressing a Gap in the Manufacturing Sector

Specifically, the factory sector remains largely offline. India is home to approximately 150,000 factories, yet a substantial majority currently lack the digital infrastructure necessary to connect with and directly sell their products to retailers.

The Genesis of Bijnis

Around six years ago, a team of four individuals – Siddharth Vij, Chaitanya Rathi, Siddharth Rastogi, and Shubham Agarwal – united to address this critical challenge. Each member possessed either direct experience or a familial connection to the manufacturing industry.

Securing Series B Funding

On Tuesday, the team announced continued progress and growing investor confidence in their venture. Bijnis, the startup they founded, has successfully secured $30 million in a Series B funding round.

Westbridge Capital led the investment, with participation from existing investors including Sequoia India, InfoEdge, Waterbridge Ventures, and Matrix Partners India.

Bijnis: An Operating System for Factories

Headquartered in New Delhi, Bijnis operates a mobile application described by Vij as a comprehensive “operating system for factories” in a recent interview with TechCrunch.

The Bijnis app facilitates demand generation from both buyers and retailers, while also streamlining the procurement of necessary supplies. Furthermore, it provides manufacturers with integrated logistics and payment solutions through strategic partnerships with leading industry players.

Addressing Inefficiencies in the Supply Chain

“Manufacturers often dedicate the majority of their time to factory operations,” Vij explained. “Consequently, they depend on wholesalers and agents for sales and purchasing. These intermediaries often withhold buyer information, enabling them to extract higher margins from manufacturers.”

Bijnis aims to eliminate these traditional agents, thereby significantly improving manufacturers’ profitability and fostering aggressive customer acquisition. A key strategy involves establishing a digital presence for these businesses, making them easily discoverable online.

Investor Perspective

Sandeep Singhal, partner at Westbridge Capital, stated, “The founding team’s deep understanding of the manufacturing landscape, stemming from their family backgrounds, has been instrumental in creating a compelling value proposition for both manufacturers and retailers in the fashion and lifestyle sectors.”

“Bijnis has established itself as the preferred B2B platform within these categories, and we are enthusiastic about partnering with them as they reshape the ecosystem for these industries in India.”

Current Platform Usage and Future Expansion

Currently, over 5,000 factories specializing in fashion, footwear, and lifestyle products utilize the Bijnis app. Vij noted that the startup prioritizes ensuring sufficient demand generation for factories joining the platform, rather than solely focusing on rapid manufacturer onboarding.

The platform has also successfully integrated over 100,000 retailers. The newly acquired funding will be used to attract more manufacturers and retailers as awareness of Bijnis’s services grows.

With a team exceeding 200 employees, the startup also intends to expand its product portfolio.

The Potential for Transformation

Shraeyansh Thakur, vice president at Sequoia India, commented, “Supply chains in India’s lifestyle categories remain largely disorganized and fragmented. Small and medium-sized manufacturers form the backbone of these chains, representing a substantial portion of India’s manufacturing economy, which is poised for significant transformation through rapid digitization.”

“We are excited by the team’s vision of creating an operating system for manufacturing in this segment and look forward to supporting them in this endeavor.”

• Key Investors: Westbridge Capital, Sequoia India, InfoEdge, Waterbridge Ventures, Matrix Partners India
• Platform Focus: Fashion, Footwear, and Lifestyle categories
• Current Users: Over 5,000 factories and 100,000 retailers