Bijak, a B2B platform for agricultural commodity trading, has raised $2.5 million from various investors including Omnivore and Omidyar Network India The company also seeked investment from Sequoia Capital India’s rapid scale-up programme – Surge, and Better Capital. The company was founded by Nukul Upadhye, Mahesh Jakhotia, Jitender Bedwal, Daya Rai and Nikhil Tripathi in 2019.
The startup will utilize these funds in hiring talent, expand its footprint and also invest funds in its technology.
In a media statement, Bijak co-founder Nukul Upadhye said, “Focused on addressing challenges such as accountability and trust in the B2B agri commodity trade, we are targeting a $200 billion market in India, which has almost five million plus middlemen. Additionally, we have customised the app for agricultural commodity traders, with terminologies used in the mandis (wholesale markets) that they are familiar with.”
Bijak is a platform for the agricultural sector in India that enables traders, wholesalers and food processors to keep a ledger of their transactions, access transparent pricing, optimise logistics and improve their working capital cycles.
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