Pre-Series A round led by Inflection Point Ventures saw Beyobo, a B2B commerce enabler, raise Rs 5.5 crores. Along with many other individual angels, this round also included SAN Angels, Indian Angel Network, and Hyderabad Angels.
Beyobo stated in a press release that the company intends to use the funds for demand generation, supply enhancement, and technology enhancement.
Beyobo, a company founded by Anil Agrawa, specializes in consumer electronics, fashion accessories, and health and beauty products. Over 35,000 retailers were reportedly served by the startup, which generated about Rs 95 crore in revenue in FY23. The company hasn’t, however, submitted its FY23 audited financials.
To improve the customer experience, the brand intends to enter new categories and implement features like predictive analysis and personalized cataloguing.
According to information gathered by Fintrackr, the angel investment company Inflection Point Ventures (IPV) invested in over 20 early-stage startups in H1 2023. The list also includes Shipturtle, BharatNXT, Raaho, LoanKuber, Aksum, Tummoc, Crest, ixamBee, and others.
