23.1 C
Indore
Saturday, August 20, 2022
Home Gadgets B2B digitisation platform Sourcewiz raises Rs 20 crore in funding

B2B digitisation platform Sourcewiz raises Rs 20 crore in funding


Sourcewiz, a business-to-business (B2B) digitisation platform, has raised Rs 20 crore in a funding spherical led by Matrix Partners India.

Angel traders together with Aniket Deb, the cofounder of B2B packaging agency Bizongo; Wami Capital, the household workplace of Transworld Group, and Rohit Kapoor, world chief advertising officer of Oyo, additionally participated within the spherical.

The Software program-as-a-Service (Saas)-based platform plans to utilise the funds to develop its staff to extra export hubs throughout India.

The corporate presently operates in hubs akin to Panipat, Agra, Jaipur and Karur.

“We additionally plan to deepen our providing to clients by serving to them entry newer demand channels and automate different elements of manufacturing facility operations akin to procurement and funds,” cofounder Divyaanshu Makkar stated in a press release.

The corporate plans to develop to different geographies like Bangladesh, Turkey and Pakistan, Makkar informed ET.

Uncover the tales of your curiosity



Based in 2021 by Makkar, Vikas Garg and Mayur Bhangale, Sourcewiz works with exporters in digitising their gross sales and advertising operations, which incorporates automating processes akin to product designing, cataloguing, creating quotations, invoicing and commerce present administration.

“Presently we’re into digitising the factories’ operations. Nevertheless, we’ve plans to enterprise into organising ecommerce companies for the factories we cater to,” Makkar stated.

The corporate raised $3 million in a seed spherical from Blume Ventures and Alpha Wave World in October final yr.

“Sourcewiz’s SaaS-led strategy has acquired sturdy early traction, buyer love and adoption inside the Indian export group, reinforcing the necessity for such a platform,” stated Sudipto Sannigrahi, principal, Matrix India.

The agency stated it had onboarded round 500 clients.

“We serve 500-plus factories, and we’ve a gift annualised income run price of $0.5 million. We do not burn some huge cash, so we nonetheless have scope for extra progress and growth,” Makkar stated.

Keep on high of technology and startup news that issues. Subscribe to our each day publication for the most recent and must-read tech information, delivered straight to your inbox.

Most Popular

Manish Sisodia Says “Computer, Phone Seized” After 14-Hour CBI Raid

<!-- -->Manish Sisodia mentioned his laptop and telephone have been seized throughout the CBI raids.New Delhi: Manish Sisodia, the Deputy Chief Minister of...

Delhi Government Transfers 12 IAS Officers After Raid On Manish Sisodia

<!-- -->A dozen of IAS officers have been shifted between departments amid CBI raid on Manish Sisodia on Friday.New Delhi: In a bureaucratic...

7 Recipes To Reinvent Plain Nimbu Pani To Make Interesting Drinks

Typically only a glass of water will not do something to quell our thirst, we'd like extra. And we discover solace in refreshing...

Recent Comments