E-commerce platform Bzaar raises $4 million in funding round
E-commerce marketplace Bzaar has raised $4 million in a recent seed funding led by Canaan Partners. Angel investors Binny Bansal, Sameer Nigam, Rahul Chari, Lee Fixel, and Ashish Gupta also participated in the funding round.
Bzaar will utilise the funds to strengthen its platform across sectors like onboarding sellers, technology, logistics, infrastructure development, and more.
Commenting on the funding, Nishant Verman, co-founder and CEO of Bzaar in a statement said: “The pandemic has accelerated the need for supply-chain diversification and triggered a massive surge in businesses looking to expand internationally. This new funding will accelerate Bzaar’s progress in three critical areas - bringing more verified, export-ready manufacturers onto the platform; solving for logistics, quality control, and packaging to deliver predictable and hassle-free sourcing experience; and finally strengthening their India operations to make their products easily accessible to our buyers.”
Joydeep Bhattacharyya general partner at Canaan added: “Bzaar is solving long-standing problems that have existed on both the demand and supply sides and the digital transformation required to make international wholesale transactions a seamless online experience.”
Bzaar, a digital global wholesale marketplace, was founded by Nishant Verman and Prasanth. It sells over 15,000 products across 50 verticals, including lifestyle, home, accessories, apparel, jewellery from value-based brands and sellers in India to more than 100 countries.
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