E-Commerce startup Biz365 raises funding from Innovana Thinklabs

Jaipur-based eCommerce platform Biz365 has raised a funding of USD 200k led by its early investor, Innovana Thinklabs Limited. As per the company statement, "The funds raised will be used for team expansion across key functions like product development, sales, marketing, and talent hiring to ensure long-term growth. "

The company is also eyeing to partner with educational institutions to train young entrepreneurs on e-commerce.

Speaking on the investment, Chandan Garg, Chairman & MD, Innovana Thinklabs Limited, “Businesses today know the importance of having an online presence, especially due to COVID-19. The behaviour of customers has also changed, as they have become more inclined towards shopping online. And, we are sure that the innovation and new technologies that Biz356 is bringing to the table will change the way the e-commerce industry works.”   

“Many existing businesses that have adopted Biz365 have completely transformed their way of business and now get regular online orders. Such stories keep us motivated to do better for their customers every single day. Close to 8000 businesses have registered to use its platform since the middle of 2021. We aim to expand the customer base to 150K websites in FY2022”, said Prateek Jain, co-founder and CEO.

“Rapid digitization of SMBs and deepening the e-commerce ecosystem are huge trends in India, and Biz365 is building a next-gen product that sits at the confluence of both these trends, integrating the entire commerce infrastructure onto one single platform”, said Aditya Kedia, co-founder and CTO.

According to a Grant Thornton report, e-commerce in India is expected to be worth US$ 188 billion by 2025.