BEYOBO Secures Rs 6.7 Crore Funding to Accelerate Cross-Border E-commerce Expansion

BEYOBO, a burgeoning B2B cross-border e-commerce startup, has successfully raised Rs 6.7 crore in pre-Series A2 funding. The funding round, which was oversubscribed by an impressive 300%, was spearheaded by the Indian Angel Network (IAN) with substantial contributions from the International Startup Foundation, SAN Angels, and distinguished high net worth individuals (HNIs).

BEYOBO, a platform dedicated to facilitating cross-border trade in consumer goods, announced its plans to utilize this capital infusion towards augmenting its technology infrastructure and expanding its portfolio of international brands within the Indian market.

Anil Agrawal, CEO and Co-Founder of BEYOBO, expressed enthusiasm about the investment, stating, “We are not just creating a platform; we are building a category that will redefine how cross-border transactions are perceived and executed globally, backed by our own 20-year experience in the domain.”

The company’s core mission is to serve as a conduit for Indian SMEs seeking to import goods from global markets while simultaneously providing foreign brands and sellers with a gateway to reach Indian consumers.

With a robust growth trajectory, BEYOBO has reported a doubling of its business over the past year, spanning diverse categories such as cosmetics, mobile and accessories, household goods, and more.

Bikky Khosla, Lead at Indian Angel Network, emphasized the investor’s confidence in BEYOBO, remarking, “Our decision to invest in the last three rounds including the current one is a testament to our belief in the company’s potential and execution of their vision.”

The B2B e-commerce sector in India has witnessed exponential growth, as indicated by data from Statista.com, with a market value surging to $18.2 billion in 2023 from $5.6 billion in 2021. Projections suggest that by 2025, the market could reach a staggering $60 billion, underscoring the immense opportunities within India’s digital commerce landscape.

BEYOBO aims to leverage its early mover advantage and experienced team to solidify its position as a leading player in the cross-border e-commerce domain, paving the way towards achieving multibillion-dollar status.

The startup is now gearing up for its Series A funding round, buoyed by the promising outlook for cross-border trade and the rapidly expanding e-commerce landscape in India.