BuyEazzy, a Mysore-based horizontal e-commerce platform, has raised $4.25 million in a Series A funding round led by Info Edge Ventures, with participation from existing investors Incubate Fund Asia and M Venture Partners.
Expansion and tech advancements
According to the company's statement, The startup plans to use the capital for geographical expansion. It aims to extend its reach to over 40 cities in the next 12-15 months, focusing initially on southern India before expanding nationwide.
Additionally, a portion of the funds will be allocated to building an in-house tech team.
"Our tech is currently outsourced. A part of the funds is going towards building our in-house tech team and tech muscle power,” said Rahul Aggarwal, co-founder and CEO of BuyEazzy.
Strengthening inventory and team
A significant portion of the investment will also go into working capital to optimize margins and strengthen inventory levels. The move is expected to expand the assortment on the platform, enhancing the shopping experience for customers. Furthermore, It is looking to bolster its team, adding new members to support its growing operations.
Catering to beauty and personal care needs
Founded in May 2021 by Rahul Aggarwal and Hariher B, BuyEazzy has made a notable impact in the e-commerce sector, especially in tier 2 and tier 3 cities within Karnataka and Tamil Nadu.
The platform caters to the beauty and personal care needs of consumers in these regions, where access to a wide range of products is often limited. The startup claims to have witnessed 4x growth in the last year and is on a mission to bring more than 2 million offline users online.
Join our new WhatsApp Channel for the latest startup news updates