BEYOBO Secures Rs 6.7 Crore in Oversubscribed Funding Round

Preeti Bali / 6:31 am / May 14, 2024

BEYOBO, a prominent player in the B2B cross-border e-commerce landscape, has successfully secured Rs 6.7 crore in its pre-Series A2 funding round. This round, exceeding expectations by 300% in investor interest, was spearheaded by the Indian Angel Network (IAN). Joining IAN were the International Startup Foundation, SAN Angels, and a collective of angel investors and high net-worth individuals (HNIs).

Fueling Growth: Expanding Brands and Upgrading Technology

The funds raised by BEYOBO will be strategically directed towards two key areas. Firstly, the company plans to leverage the capital to introduce a wider selection of international brands to the Indian market. This will provide Indian SMEs with greater access to a diverse range of products and empower them to cater to evolving consumer demands. Secondly, BEYOBO will invest in significant upgrades to its technological platform. This will enhance the user experience, streamline operations, and solidify BEYOBO’s position as a leading facilitator of cross-border trade.

Connecting Businesses: A Gateway for Indian SMEs and International Brands

Established by Anil Agrawal, BEYOBO functions as an online marketplace that bridges the gap between Indian businesses and international suppliers. The platform empowers Indian SMEs to seamlessly import goods from various global markets. Conversely, BEYOBO acts as a springboard for foreign brands and sellers, granting them access to the vast Indian market, both through online and offline channels.

Impressive Growth Trajectory in B2B E-Commerce Market

BEYOBO’s e-commerce platform has witnessed remarkable growth, experiencing a doubling of its business volume over the past year. The platform offers a comprehensive selection of products across diverse categories, including cosmetics, mobile phones and accessories, household goods, and a multitude of other categories. BEYOBO takes complete ownership of the order fulfillment process, ensuring a smooth and efficient experience for its customers.

A Thriving B2B E-Commerce Landscape in India

Industry reports highlight the burgeoning B2B e-commerce market in India. The market size has witnessed a significant leap, reaching a staggering $18.2 billion in 2023, a remarkable increase from $5.6 billion recorded in 2021. This exponential growth underscores the increasing reliance on online platforms for facilitating business-to-business transactions. BEYOBO, with its strategic approach and recent funding success, is well-positioned to capitalize on this thriving market and emerge as a frontrunner in B2B cross-border e-commerce.

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