Total amount raised
$33.7 Million
Latest funding date
1/1/2022
Location
Bijak has successfully raised a total of $33.9 million over three funding rounds, with the latest being a Series B round. The platform is dedicated to transforming the agricultural supply chain in India, offering innovative solutions for grain trading, fresh produce supply, and global market connections.
Keep reading to explore the intricacies of Bijak's fundraising journey and the investors backing this transformative platform.
What Is Bijak?
Bijak, founded in 2019, is an agritech company based in Haryana, India. The company focuses on transforming the agricultural supply chain through innovative market solutions.
With a workforce of 251-500 employees, Bijak operates various services such as Bijak Vyapaar, Bijak Mandi, Bijak Global, and Just Fresh, each targeting different aspects of agricultural trade and supply. The company is dedicated to empowering every node in the agricultural ecosystem.
How Much Funding Has Bijak Raised?
- Seed Round
- Amount Raised: $2,500,000
- Date: October 2019
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and scale operations.
- Series A
- Amount Raised: $12,000,000
- Date: April 2020
- Lead Investors: RTP Global
- Valuation at Round: $82,000,000
- Motivation Behind the Round: To scale the platform and expand market reach.
- Series B
- Amount Raised: $19,370,000
- Date: January 2022
- Lead Investors: Bertelsmann
- Valuation at Round: $163,000,000
- Motivation Behind the Round: To meet growing business needs and support long-term capital requirements.
Total Amount Raised: $33,870,000. Current Valuation: $163,000,000.
Key Investors
- Bertelsmann
- Details: Bertelsmann is a global media, services, and education company. It operates in about 50 countries and employs around 130,000 people.
- Investment Focus Areas: Media, services, education
- Notable Investments: Not specified in the sources
- Omidyar Network India
- Details: Omidyar Network India is a social impact investment firm. It focuses on creating large-scale social impact through its investments.
- Investment Focus Areas: Financial inclusion, digital identity, education
- Notable Investments: Lenddo, Khan Academy
- RTP Global
- Details: RTP Global is a venture capital firm that invests in early-stage technology companies. It has a global presence with investments in various tech sectors.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Delivery Hero, Yandex
- Surge Ventures (Sequoia Capital India)
- Details: Surge Ventures is a scale-up program by Sequoia Capital India. It focuses on accelerating early-stage startups.
- Investment Focus Areas: Technology, consumer services
- Notable Investments: Byju's, Zomato, OYO Rooms
- Better Capital
- Details: Better Capital is an early-stage venture capital firm. It invests in startups across various sectors, particularly in technology and consumer sectors.
- Investment Focus Areas: Early-stage startups, technology, consumer sectors
- Notable Investments: Khatabook, Teachmint
What's Next for Bijak?
Bijak stands at the cusp of significant growth opportunities, driven by its mission to bridge the information gap in agricultural commodities trade. With a recent $19.37 million Series B funding round, the company is well-positioned to enhance its logistics solutions and offer better prices and increased working capital for buyers and sellers. This expansion is crucial as Bijak operates in over 27 states in India, trading more than 110 commodities.
Future fundraising opportunities appear promising, with the company reportedly in discussions to raise an additional $35 million. This potential influx of capital could further bolster Bijak's market presence and technological advancements. However, the path ahead is not without challenges. Competition from other well-funded agritech startups and the need to maintain operational efficiency across multiple states and commodities are significant hurdles. Navigating these challenges will be key to Bijak's continued success and growth in the agritech sector.
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