Bijak is in talks to raise $35 million in a funding round led by Bertelsmann India. The startup also includes Omidyar Network, Omnivore Partners and Better Capital as its investors. The platform in 2019 by Mukul Upadhye, Mahesh Jakhotia, Jitender Bedwal, Daya Rai and Nikhil Tripathi. The platform allows traders, wholesalers and food processors to record their transactions, access transparent pricing, optimise logistics and improve their working capital cycles.
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“From a GMV of Rs 50 lakh in October 2019, the platform has scored annual GMV of Rs 1,200 crore. The company is present in 27 states and union territories”, a release had said. This funding comes at a time when agritech startups are observing increased interest from investors. Almost $172 million have been raised in around 21 deals so far this year, data from Venture Intelligence told. In 2020, over 20 agritech startups advanced over $125 million in equity, venture debt and standard debt rounds.