Bidso’s Cutting-Edge Sourcing Platform Raises $1.5M with PeerCapital at the Helm
- ByStartupStory | August 9, 2023
Bidso, a tech-enabled sourcing platform, has successfully raised $1.5 million in funding. This investment was led by PeerCapital, with $1.2 million contributed during the seed round, and an additional pre-seed amount of $300,000 from DeVC and various investors including Mohit Sadaani, Nishit Garg, OfBusiness Founders Fund, Saurabh Jain, and Revant Bhate.
The funds acquired will be strategically allocated toward several key areas. Firstly, Bidso plans to expand its presence across different geographies and amplify its demand channels. Additionally, the company aims to bolster its curated network of manufacturers while simultaneously advancing its technological infrastructure.
Founded in 2022 by Ashwin Jain, Rahul Agarwal, Vivek Singhal, and Aditya Krishnakumar, Bidso offers invaluable assistance to brands in the form of locating suitable products, identifying appropriate suppliers, and securing the best prices. The platform places a strong emphasis on maintaining stringent quality control standards, transparent operations, and efficient order fulfillment processes. By leveraging its technological platform, Bidso empowers businesses to streamline their sourcing procedures and harness the full potential of contract manufacturing.
In alignment with the Make in India initiative, Bidso is set to play a crucial role in driving demand and enhancing the capabilities of Indian SME manufacturers. Concurrently, brands seeking customized products will benefit from the platform’s discovery and sourcing capabilities. Notably, Bidso is committed to curating a network of the finest manufacturing partners, prioritizing transparency and operational efficiency throughout the supply chain.
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