VC Fund Investments
Sourcing co for small retailers Bzaar raises $4-M from Canaan Partners, others
Bzaar, a San Francisco- and Bangalore-based business-to-business cross-border marketplace, has raised USD 4 million in seed funding, led by Canaan Partners. Angel investors including Flipkart co-founder Binny Bansal, PhonePe founders Sameer Nigam and Rahul Chari, Addition founder Lee Fixel and Helion Ventures co-founder Ashish Gupta also participated in the funding round. Co-founded by former Canaan India and Flipkart executive Nishant Verman, Bzaar aims to connect retailers in the US with over 50 export-ready manufacturers in India. Small buyers can purchase over 10,000 wholesale goods on Bzaar's marketplace. The company guarantees products arrive within two weeks and manage all of the packaging logistics and buyer protection. The new funding will enable the company to invest in marketing and also in technology to advance its cataloging features so that goods pass through customs seamlessly.
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