Mobisy, a leading provider of SaaS-based distribution technology solutions for consumer companies, announced on Monday that it has received $3.5 million (Rs 24 crores) in the second round of venture capital funding, led by SIDBI Venture Capital Limited (SVCL).
Ojas Partners (Mobisy's investor in an earlier round), Triton Investment Advisors and some individuals also participated in this round.
Mobisy enables orders from over 5 million retail outlets. The funds raised would go towards building products, research & development and power expansion plans through an intensified sales and marketing push.
Lalit Bhise, co-founder and CEO of Mobisy, said "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."
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. It includes sales force automation (SFA), distributor management system (DMS, a partner relationship management application), retail execution and merchandising, van sales automation.
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, among a fast-growing list of over 250 brands.
In 2016, Mobisy launched Distiman, a mobile app through which retailers can order stock directly from hundreds of brands and receive delivery within 24 hours.