B2B cross-border trade startup Reevoy has raised $4 million in seed round led by 9Unicorns and VCAT. The round also saw participation from Better Capital, Earlsfield Capital Partners, Kunal Shah, Anupam Mittal, Ketan Patel, and Hanumantha Kumar, the company said on January 25.
The money will be invested in building Reevoy’s supply-chain technology and embedded finance capabilities.
Ankur Khetan, co-founder of Reevoy said, “In today’s world, where ordering a Rs 50 coffee on an app gives us hundreds of restaurants to choose from and shows us minute-by-minute visibility on the order progress – it is surprising that export orders worth millions are being managed the same way they were 50 years ago. Reevoy aims to turn this on its head, unlocking the India opportunity for global importers.”
Founded by Khetan, Ishan Dadhich, and Mohit Agarwal, Reevoy is a platform that helps importers source products from Indian exporters and provides working capital to finance the transactions.
Reevoy is also working to create tech-powered supply chains for fashion and home-décor between India and the world by supercharging mid-sized audited Indian factories with tech, bringing them on the cloud with their production management software. Reevoy has also built an on-ground team that manages and inspects production, the company said.
Apoorva Ranjan Sharma, co-founder of 9Unicorns and VCATs, said, “Reevoy is a first of its kind startup that is using technology to solve some real pain points for the Indian exporters with regards to supply chain and payments, helping them compete globally. With India’s share of global exports hitting record numbers and forecast to cross $400 bn in current fiscal, we expect massive opportunities for players like Reevoy.”
The company had raised $1 million in a pre-seed round in 2021.