Sequoia, Omidyar back agritech startup Bijak

Sequoia, Omidyar back agritech startup Bijak
Photo Credit: Photo Credit: 123RF.com
18 Oct, 2019

Agritech B2B trade platform Bijak has raised $2.5 million from Surge Venture II and existing investor Omidyar Network.

Early-stage investor firm Better Capital and angel investor Nipun Mehra also participated in the round, regulatory filings show.

The filings did not mention the stage of the funding round.

Sequoia Capital India had launched Surge in January with a plan to provide funds up to $1.5 million to around 10-20 early-stage startups.

Gurugram-based Bijak was part of the second cohort of Sequoia Surge, which selected 20 startups for its 16-week accelerator programme.

Bijak was founded in May 2019 by Daya Rai, Jitender Bedwal, Mahesh Jakhotia, Nukul Upadhye and Nikhil Tripathi. It is a platform that enables traders, wholesalers and food processors to keep a ledger of their transactions, access transparent pricing, optimise logistics and improve their working capital cycles.  

The company also claims to be providing loans, reducing costs and eliminating wastage via logistics and convenient payment channels

Bijak app is available in vernacular languages like Marathi and Hindi.

Two other startups from the second cohort of Surge raised funds this month.

Unified data platform Hevo Data raised $4 million in a seed funding round from Surge and venture capital firm Chiratae Ventures.

Neo bank Juno, also part of the second cohort, raised $3 million in a seed funding round from Surge and blockchain startup investor Polychain Capital.