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Russia's Ru Net Enterprises leads fundraising round in Bijak, startup raises more than Rs 90 crore

The startup is looking to raise more than Rs 100 crore in its series A round.

April 20, 2020 / 07:22 PM IST
Representative image

Representative image

Agri tech startup Bijak has raised more than Rs 90 crore from multiple investors in its series A round of funding.

While the round was led by Moscow-based Ru Net Enterprises, which pumped in Rs 38 crore, it also saw participation of its existing backers Sequoia Surge and Omidyar Network. They have infused Rs 15 crore and Rs 17 crore, respectively.

Other investors which participated in this round are AL Trust, Tempo Ventures and Omnivore Partners, as per filings made with the Corporate Affairs ministry accessed from business intelligence platform Tofler.

Two sources Moneycontrol spoke to however added that Bijak is in talks with more investors and is looking to raise more than Rs 100 crore in this round. The company did not comment on the funding.

Bijak, which was part of Sequoia's accelerator programme Surge 2.0, had raised Rs 20 crore in its seed round. The startup was founded in 2019 by Nikhil Tripathi, Mahesh Jakhotia, Nukul Upadhye and Jitender Bedwal. It currently has a 50 member team which works out of Gurugram. It operates across 22 states and 400 districts.

Bijak is trying to digitise and organise the agro procurement market by connecting buyers and sellers through a single platform. It runs a marketplace which offers transparent pricing, easy payments, complete documentation and record keeping for participants in the agro procurement chain.

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Pratik Bhakta
first published: Apr 20, 2020 07:16 pm