Y Combinator-backed B2B startup Bikayi, which provides free WhatsApp-integrated ecommerce store setup with payment gateways and order tracking, has raised a seed round of $2 million from a clutch of international investors, including Mantis ventures, a VC fund promoted by the popular band Chainsmokers.
Mantis is a $50 million VC fund that invests in startups and this is their first investment in an Indian entity. Other investors include YC, Pioneer Fund, angel investor Ankur Nagpal, and others.
Bikayi co-founder, Sonakshi Nathani Said the startup will use the funds to hire more talent to accelerate product development, ramp up the platform, and get a million new users onboard.
Ankur Nagpal said, “Bikayi is the company I am most excited about in the entire YC batch. They have a tremendous opportunity to become the storefront of choice for the millions of small local businesses in India — and eventually the entire developing world. They make commerce both local and personal, which is integral for success in India, and their growth numbers speak for themselves.”
Merchants on Bikayi are already doing daily transactions of over Rs 2 crore. The startup is being used by grocery stores, wholesalers, manufacturers, and retailers from 3,000+ towns across India.
Founded in 2019 by Sonakshi Nathani and Ashutosh Singla, Bikayi claims to have become a one-stop solution for merchants if they want to start and run an online business. It allows small businesses to quickly create their online stores and give them the right tools to manage ecommerce on WhatsApp. The app is available on Google Play Store.
We look forward to more such tailored ecommerce solutions provided by Africans for Africa.