B2B commerce enabler Beyobo raises Rs 5.5Cr in Pre-Series A Round led by Inflection Point Ventures

B2B commerce enabler Beyobo has raised Rs 5.5 crore in a Pre-Series A funding Round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

The round also saw participation from SAN Angels, Indian Angel Network and Hyderabad Angels, along with several other individual angel investors. 

The startup said it plans to use 25% of the funds towards technology enhancement, 35% to supply enhancement, and the remaining 45% will be utilized for demand generation.

Founded by Anil Agrawal,Shikha Agarwal, and Kunal Jain, Beyobo addresses the challenges of product discovery and sourcing in the offline retail market by providing efficient solutions for discovering imported products. 

The B2B cross-border market is valued at a massive $730 billion. With a focus on beauty and personal care, consumer electronics, and fashion accessories, BEYOBO claims to serve over 35,000+ retailers and generate ~Rs 95 crore in revenue in FY23. 

It plans to expand into additional categories and incorporate predictive analysis and personalized cataloguing features to enhance the customer experience.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, said, “The market  for international Brands has seen a sharp rise due to deeper penetration of social media which has removed proverbial boundaries between large metros and tier 2 and 3 cities. The consumers are on a look out for premium and genuine international brands and Beyobo is helping such brands making inroads and opening new markets for them. We believe B2B online commerce is just beginning to unfold in India and it will see many new and disruptive models with Beyobo taking the lead.” 

Anil Agarwal, Co-founder & CEO, of Beyobo said, “As CEO of BEYOBO, I've seen B2C businesses dominate the last decade, but now we focus on digitalizing B2B operations. Cross-border transactions pose challenges, so we've developed three engines for non-linear growth. Our deep understanding of major Asian countries empowers us, and we're ready to embrace the promising road ahead.  The IPV team and their investors prove to be not just valuable in terms of providing funds, but also offer indispensable support in terms of ideating & brainstorming, providing real time feedback and sharing business connects. Moreover, Anil confidently asserts that BEYOBO has already laid out a blueprint for building a multibillion-dollar company.”

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