Bidso, a platform for tech-enabled sourcing, has raised $1.5 million in a pre-seed round led by PeerCapital. In addition to DeVC, the round also included participation from Mohit Sadaani, Nishit Garg, OfBusiness Founders Fund, Livespace-CEO Saurabh Jain, and Revant Bhate.
According to a press release from Bidso, the money will be spent on broadening geographical reach and demand channels, enhancing its carefully cultivated network of manufacturers, and developing the technology stack.
Ashwin Jain, Rahul Agarwal, and Vivek Singhal co-founded Bidso in 2022 to assist brands in locating the best products, suppliers, and prices while upholding strict quality control guidelines and transparent, effective fulfillment. The company claims that its tech platform enables businesses to automate their sourcing procedures and realize the full potential of contract manufacturing.
By increasing demand and enhancing the capabilities of Indian SME manufacturers, Bidso will support the Make in India initiative. Brands will benefit from the discovery and sourcing of customized products. The platform claims that it will improve transparency and operational efficiency throughout the supply chain and invite only the best manufacturing partners to join its network.
