B2B cross border ecommerce startup BEYOBO raises Rs 6.7Cr in a pre-Series A2 round

Cross-border e-commerce platform for consumer goods BEYOBO has raised Rs Rs 6.7 crore in the pre-Series A2 funding round.

The pre-Series A2 round, which was oversubscribed by 300%, was led by the Indian Angel Network, with participation from the International Startup Foundation and SAN Angels, along with prominent Angels and HNIs (high networth individuals).

The startup said it will use the raised capital to bring more international brands to the Indian market and upgrade its technology platform.

What does BEYOBO do?

Founded by Anil Agrawal, BEYOBO is an online marketplace where it acts as a gateway for Indian SMEs who want to import goods from other global markets.

The startup also facilitates foreign brands and sellers who want to expand their reach in the Indian market, both online & offline. BEYOBO claims to source products globally at competitive prices tailored for Indian businesses.

Focused on simplifying international trade

The startup curates a diverse range of goods and creates a cross-border category with the aim of simplifying international trade. 

“Our journey so far has been phenomenal. The overwhelming interest from our investors & customers not only fuels our financial resources but also reaffirms our strategic direction," said Anil Agrawal, CEO and Co-Founder of BEYOBO.

"We are not just creating a platform; we are building a category that will redefine how cross-border transactions are perceived and executed globally, backed by our own 20-year experience in the domain. Our sights are firmly set on achieving profitability as we gear up for a Series A round, and the future looks incredibly bright," Agarwal said.

BEYOBO growth

BEYOBO claims that its e-commerce platform has doubled its growth over the last year. 

The platform currently sells across several varieties including cosmetics, mobile and accessories, household goods and much more. The order fulfilment is executed by BEYOBO.

“Our journey with BEYOBO has been marked by a deep understanding of their solid business model and an impeccable Founder-Market Fit. Their relentless pursuit of excellence and innovation makes us confident in their ability to lead the cross-border commerce landscape." said Hiren Turakhia, Lead, Indian Angel Network.

According to recent data published on Statitsta.com, as of 2023, the B2B e-commerce market in India surged to a staggering $18.2 billion, demonstrating a significant leap from $5.6 billion in 2021.