Mobisy, a leading provider of SaaS-based distribution technology solutions for consumer companies, announced today that it has raised a second round of funding of $3.5 million (Rs 24 crore) led by SIDBI Venture Capital Limited (SVCL).
Mobisy’s investor in an earlier round Ojas Partners, Triton Investment Advisors and some individuals also participated in this round.
Mobisy currently enables orders from over 5 million retail outlets (about a third of India’s retail ecosystem)
It will use the funds raised towards furthering its goals and for research and development and to power expansion plans through an intensified sales and marketing push.
“We are honoured and thrilled to join hands with SVCL, one of India’s oldest and most respected growth partners for SMEs. We look forward to leveraging their industry experience to penetrate deeper into our market and solve sales & distribution problems for consumer goods companies and their partners in India and abroad,” Lalit Bhise, co-founder and CEO of Mobisy said.
Lalit founded Mobisy in 2007 by Lalit Bhise, who has an expertise in the area of hybrid mobile programming. In 2012, the company built Bizom, a SaaS-based suite of automation solutions tailormade for consumer companies. The platform delivers real-time insights for driving greater distribution efficiency that helps organizations to grow.
Bizom’s solutions broadly include sales force automation (SFA), Distributor management system (DMS, a partner relationship management application), Retail execution and merchandising, Van sales automation.
“We believe that Mobisy’s real-time insight-driven solutions for our country’s consumer goods retail ecosystem have the potential to streamline what is currently a very high-touch, inefficient system. This can mean better results for everyone in the ecosystem, from brands to distributors to retailers. We were particularly impressed by the team’s passion to create products that bring the benefits of digitization to people who may otherwise have remained on the margins of Digital India – small kirana store owners, distributors and small & medium consumer goods brands,” Sajit Kumar from SVCL said.
Bizom’s end-to-end solutions layered with AI and machine learning provide brands the structure, visibility, and insights required to decide what to do, where to do & how to do it and are part of all the solution offerings.
Its customers include international brands such as Nivea, Hershey’s and Mars as well as top Indian brands such as Parle Agro, Jyothy Laboratories Limited, Tata Steel, Fena, and Capital foods.