Bijak

Bijak, launched by Nukul Upadhye, Mahesh Jakotia, Jitender Bedwal, Daya Rai and Nihil Tripati, is a trading B2B platform for the agricultural sector. The platform allows traders, wholesalers and food industries to keep records of their transactions with access to transparent pricing, logistics and loans. According to the company's website, as of mid-February 2022, the Bijak platform is represented in more than 27 states of India, including Maharashtra, Uttar Pradesh, Madhya Pradesh, Punjab, Bihar, and offers customers more than 110 goods.

History

2022: Raising $20 million, estimated at $163.3 million

In mid-February 2022, as part of the investment round of series B, the startup Bijak raised almost $20 million. The round was led by Bertelsman ($13.15 million), Omidyar ($3 million), Leonid Boguslav's fund RTP Global (more than $2 million), as well as Survey Ventures and Better Capital.

According to Fintrackr, Bijak's estimate for the last round reached $163.3 million. The ambassador of the Series A round, when the startup received $12 million from investors, his valuation was approximately $82 million.

Leonid Boguslavsky Foundation invested in Indian agrotech platform Bijak

Bijak will use the funds raised for the needs of the company's growing business, long-term capital requirements, to implement growth plans and for general corporate purposes, the statement said.

After a new distribution of shares, Nukul Upadhye retains a 23.85% stake in Bijak, followed by Jakotia, who owns a 13.25% stake in the company. Paradise and Tripathi each own a 5.3% stake, while Bedwal has a 2.64% stake in the company.

Survey Ventures is the largest shareholder among investors with a 13.8% stake, followed by Bertelsman and Omidyar, which control 8.1% of the company's shares each.

In 2021, Bijak also introduced an employee stock ownership plan worth about Rs 65 crore.^[1]

Notes