Bzaar Raises $4 Million In Seed Round
Bzaar's digital wholesale marketplace enables trusted product discovery and ensures transparent end-to-end buying experience
Bzaar, a global B2B e-commerce marketplace, has raised $4 million in Seed funding led by Canaan Partners.
Through its technology platform, Bzaar enables small and medium-sized businesses (SMBs) in India and Southeast Asia to connect directly with buyers across the world, facilitating cross-border trust to boost international commerce.
“The pandemic has accelerated the need for supply-chain diversification and triggered a massive surge in businesses looking to expand internationally. Currently, if you are a small business in India looking to start or accelerate your exports business, the infrastructure is largely offline and opaque or mostly non-existent. Bzaar democratizes exporting from India and southeast Asia so the region’s in-demand products are accessible at a global scale,” said Nishant Verman, co-founder and CEO of Bzaar.
“Today, the US is already the largest export market for Indian goods, representing 17 per cent of total goods exports. Bzaar is solving long-standing problems that have existed on both the demand and supply sides and the digital transformation required to make international wholesale transactions a seamless online experience,” said Joydeep Bhattacharyya, general partner at Canaan.
Bzaar is a digital global wholesale marketplace enabling small retailers across the world to buy unique, high-quality, well-curated products from India and Southeast Asia. Bzaar features over 15,000-plus products across 50-plus verticals, including lifestyle, home, accessories, apparel, jewelry from value-based brands and sellers in India - all of which can be ordered online directly by retailers in more than 100 countries at competitive prices. Bzaar handles the entire process, including logistics and shipping, to ensure on-time, as-promised delivery right to the doorstep, said a statement.