Biz365 Raises $200,000 From Innovana Thinklabs
The funds will be used for team expansion across key functions like product development, sales, marketing and talent hiring
Jaipur-based e-commerce platform Biz365 has raised a funding of $200,000 led by its early investor, Innovana Thinklabs Limited. 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.
"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," said Chandan Garg, chairman and MD, Innovana Thinklabs.
Demand for e-commerce services - similar to that of Shopify Inc. - is rising as small businesses digitize to cater to the millions of shoppers that were driven online after the pandemic closed malls and retail outlets. e-commerce has transformed the way business is done in India. The Indian e-commerce market is expected to grow to $ 111.40 billion by 2025 from $46.2 billion as of 2020. By 2030, it is expected to reach $ 350 billion, said a statement.
Biz365 was co-founded in mid of 2021 by Aditya Kedia, Navaldeep Singh and Prateek Jain. It aims to empower every business to win in the emerging online market by providing the right tools to scale their business online. It's a website builder that offers an easy way to create stunning sites with affordable rates and high-quality professional results. Biz365 offers many features to help you run business with ease. They include an easy-to-use shop theme, various payment gateways and analytics tools for both customers and products. Biz365 provides services for businesses and also gives freelancers the chance to access the no-code platform that will help them create a fully functional e-commerce website or any static site, siad the statement.