News

Matrix Partners leads funding in SaaS platform Sourcewiz

Sourcewiz, a software-as-a-service (SaaS) platform targeted on digitization for exporters and export factories, has introduced that they have got raised Rs 20 crore ($2.five million) withinside the pre-collection A spherical led with the aid of using Matrix Partners India and marquee angel investors.

These consist of 100x Entrepreneur Fund, Aniket Deb (co-founder, Bizongo), Wami Capital (own circle of relatives workplace of Transworld Group) and Rohit Kapoor (Global CMO, Oyo), a assertion with the aid of using Matrix Partners stated.

The fundraise is a tad decrease than the seed capital raised with the aid of using Sourcewiz in October final yr at $three million from Blume Ventures and Alpha Wave Global.
The SaaS platform pursuits to assist exporters digitize and remodel their income and advertising and marketing operations, which incorporates automating critical approaches inclusive of product designing, cataloguing, growing quotations, invoicing and change display management. The employer claims the automation has helped their clients with at the least 30% uptick of their revenue.

“We have installed certainly considered one among the most important networks of digitally linked exporters in way of life categories, with over three hundred exporters (throughout 3 countries). These are a number of the exceptional factories in India with competencies in each layout and production, however fall at the back of their Chinese opposite numbers because of a loss of digitization and automation. As cross-border deliver chains preserve to shift in favour of the Indian subcontinent, those factories want to digitize crucial workflows so that it will serve (importers mainly throughout Europe and US) and enhance the general client experience,” stated Divyaanshu Makkar, co-founder & leader government officer, Sourcewiz.

Founded in July 2021 with the aid of using Makkar and Vikas Garg and Mayur Bhangale, Sourcewiz hopes to fill the want for digitization withinside the way of life export industry – apparel, domestic textile, handicrafts, gems, jewelry and furniture.

“With the present day spherical of funding, the employer plans to extend its crew to over ten hubs throughout the sub-continent to preserve to solidify its function as a marketplace chief in manufacturing unit enablement. They additionally plan to deepen their presenting to clients with the aid of using supporting them get right of entry to more recent call for channels and automate different elements of manufacturing unit operations inclusive of procurement and payments,” the employer stated.

Currently, Sourcewiz has a presence in 4 export hubs – Delhi, Panipat, Moradabad, and Jaipur – and seeing call for from different home and global markets inclusive of Pakistan and Bangladesh.

Lead investor Matrix Partners is an early-degree project capital fund based in 2006 to goal the Indian client and business enterprise marketplace on the seed, early and early boom stages.

Matrix India has invested in numerous category-main B2B marketplaces inclusive of Ofbusiness (B2B Commerce, fintech), Captain Fresh (B2B seafood & animal protein market), Farmart (SaaS enabled agri outputs market), Vegrow (B2B culmination market), Loadshare (tech-enabled logistics network), Bijnis (B2B fashion & shoes market), and Saveo (B2B market for pharmacies).

Some of its different key investments consist of Ola (mobility), Dailyhunt (cellular neighborhood language platform), Razorpay (payments), DealShare (social trade platform), Country Delight (D2C dairy & sparkling ingredients brand) and Mswipe (cellular POS), amongst others.

About the author

BusinessUpdater

An MBA in HR and Marketing from AIMS Institute (Bangalore University), He heads digital business he has a rich experience that he has garnered from his previous organisations Including leading Banks, NBFCs & Genpact India. He is a serial entrepreneur and the founder of Heavy Group of Companies.

Add Comment

Click here to post a comment