Bidso, a tech-enabled platform for brands, has secured a total of $1.5 million as part of its pre-seed and seed funding. PeerCapital funded $1.2 million in the seed round, and DeVC and angel investors including Mohit Sadaani of The Mom’s Co., Nishit Garg of Partner-RTP Global, and Saurabh Jain of Livspace participated in the pre-seed round.
The funding will be used to grow the company’s reach, improve its carefully selected network of suppliers, and develop a technology stack that includes a quality commitment module for suppliers and a goods customization engine for buyers, as reported by Inc42.com.
Commenting on the fundraise, cofounder Singhal said, “With the funds raised, we aim to double down our efforts and serve at least 100 brands by enabling sourcing for a minimum of 50 different product categories in the next six months.”
The startup claimed that by linking companies with regional vendors, it also hopes to support the Make in India effort of the Indian government. In order to increase operational efficiency and transparency throughout the supply chain, the firm asserted that the company’s platform will choose only the finest manufacturing partners for inclusion in the network.
Bidso, a tech-enabled OEM and Contract Manufacturing platform for general merchandise, was established in 2022. With Bidso, brands can swiftly establish or increase their product offerings by sourcing tailored, high-quality products at the best price with complete transparency and efficient fulfilment. Former employees of Flipkart, Amazon, Udaan, and ITC make up the founding team of Bidso.