B2B sourcing platform Bidso raises $1.5 million from PeerCapital, others

economictimes.indiatimes.com:

B2B sourcing platform Bidso has raised $1.5 million in a funding round led by Bengaluru-based PeerCapital. The round also saw investments from DeVC and angel investors including Mohit Sadaani of The Mom’s Co., RTP Global partner Nishit Garg, OfBusiness Founders Fund, Livspace CEO Saurabh Jain and Mosaic CEO Revant Bhate. While PeerCapital wrote a cheque of $1.2 million for the seed round, the remaining $300,000 was pumped in by the other investors, Bidso said in a statement on Tuesday.

Bengaluru-based Bidso offers a full-stack solution for brand sourcing, from product and supplier discovery to value discovery and fulfilment. “Their (investors’) expertise in understanding the challenges that accompany the setup of the B2B supply chain vertical will immensely benefit our journey. 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,” Bidso cofounder Vivek Singhal said.

The funds would be employed in expanding geographies and demand channels, strengthening Bidso's handpicked group of manufacturers, and constructing the technological framework. This will involve establishing a quality assurance module for manufacturers and a product customisation system for buyers, the statement said. “Through our investment in Bidso… we are empowering businesses to optimise their supply chains like never before.

Bidso’s innovative solutions unlock efficiency, transparency, and cost savings, propelling brands towards success. We are thrilled to support Bidso’s transformative journey, revolutionising the way brands source and grow in today’s dynamic market,” said Ankur Pahwa, managing partner at PeerCapital. The