Cross-Border E-Commerce Platform BEYOBO Raises Rs 6.7 Crore

New Delhi, May 13 (KNN) BEYOBO, a leading cross-border e-commerce platform for consumer goods, has successfully raised Rs 6.7 crore (USD 820,000) in an oversubscribed pre-Series A2 funding round led by Indian Angel Network.

The round also saw participation from International Startup Foundation, SAN Angels, and prominent angel investors and high net-worth individuals (HNIs), with the total raise being oversubscribed by 300 per cent.

The fresh capital will be utilised by BEYOBO to expand its international brand portfolio in the Indian market and enhance its technology platform.

The company acts as a gateway for Indian SMEs seeking to import goods from global markets while also enabling foreign brands and sellers to tap into the lucrative Indian market.

Anil Agrawal, CEO and Co-Founder of BEYOBO, expressed enthusiasm about the fundraise, stating, "We are not just creating a platform; we are building a category that will redefine how cross-border transactions are perceived and executed globally, backed by our own 20-year experience in the domain. Our sights are firmly set on achieving profitability as we gear up for a Series A round, and the future looks incredibly bright", reported FE.

BEYOBO aims to become a multibillion-dollar B2B digital cross-border company in its category. The platform, which has doubled its growth over the last year, currently sells across various categories, including cosmetics, mobile and accessories, and household goods.

According to data from Statista.com, the B2B e-commerce market in India has surged to USD 18.2 billion as of 2023, a significant leap from USD 5.6 billion in 2021.

With the sector's robust performance, analysts forecast the market size to skyrocket to an estimated USD 60 billion by 2025, marking a remarkable milestone in India's digital commerce landscape.

(KNN Bureau)