Funding Alert
Agritech startup Bijak raises $20 million in Series B round of funding
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ByTejika Bajaj | January 21, 2022
Agritech startup Bijak has recently revealed that it has raised a sum of INR 144.2 crore or $20 million in its Series B round of funding from a clutch of investors. The round saw participation from Surge Ventures, Omidyar Network, RTP Global and Better Capital amongst others.
The company officials have revealed that the agritech startup has approved the allotment of 393 equity shares along with 2350 Series B preference shares to raise an aggregate amount of INR 144.2 crore.
Bertelsman led the investment with Rs 98.64 crore followed by Omidyar who has put in Rs 22.8 crore. RTP Global, Surge Ventures and Better Capital have invested Rs 15.2 crore, Rs 5.7 crore and Rs 1.9 crore respectively.
This announcement comes months after the startup had raised its Series A round of funding. With this round, the post money valuation of the Gurugram based startup stands at INR 1225 crore or $163.3 million.
Launched by Nukul Upadhye, Mahesh Jakhotia, Jitender Bedwal, Daya Rai and Nikhil Tripathi, three-year-old Bijak is a B2B trade platform for the agricultural sector. The platform enables traders, wholesalers and food processors to keep a ledger of their transactions with access to transparent pricing, logistics and loans. The startup has its presence across 27 states including Maharashtra, Uttar Pradesh and Bihar and deals in more than 110 commodities.
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