Ecommerce Startup BuyEazzy Secures USD 4.25M Led by Info Edge Ventures The funds will be utilised towards expanding BuyEazzy's presence to 40+ cities, onboarding 2M+ offline users, and continuing to disrupt the traditional supply chain in Bharat
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E-commerce startup BuyEazzy announced it had secured an investment of USD 4.25 million in a Series A round. This round of funding was led by Info Edge Ventures and saw participation from investors such as Pg investors Incubate Fund Asia and M Venture Partners.
"The next wave of growth in India will be driven by users from a highly dispersed continuum of large and small towns in Bharat. We have an ambition to take e-commerce to the most remote corners of India and empower these users to realize the true potential of technology and act as a catalyst in driving the consumption-led growth story of India," shares Rahul Aggarwal, Co-founder & CEO, BuyEazzy.
Founded in May 2021 by Rahul Aggarwal and Hariher B, the startup aims to transform Bharat's beauty and wellness e-commerce landscape. BuyEazzy caters to beauty and wellness consumers in Tier 2+ cities.
According to the company, e-commerce penetration for beauty in these regions is less than 5%, primarily due to the trust deficit between online platforms and offline users, long delivery times, and product authenticity and quality issues. By leveraging the trust between neighborhood store owners and consumers, the startup offers a convenient online shopping experience with access to a wide assortment, competitive prices, and reliable delivery.
"By disrupting the supply chain, we are building a unique win-win ecosystem, where manufacturers/ brands get access to remote markets and online distribution, neighborhood stores can grow their current income by 40-50% and offline users get access to wider assortment, best prices and convenience of online shopping," shares Hariher B, Co-founder & COO, BuyEazzy.
The funds will be utilised towards expanding BuyEazzy's presence to 40+ cities, onboarding 2M+ offline users, and continuing to disrupt the traditional supply chain in Bharat.
