About the Company
Bidso is an innovative Indian startup focused on revolutionizing the B2B procurement and wholesale trading landscape. Established to streamline sourcing, pricing, and supply chain management, Bidso provides businesses with a seamless and data-driven approach to procurement.
Location: India
Industry: B2B Wholesale & Procurement
Clients: E-commerce retailers, SMEs, manufacturers, and distributors.
Business Model
Bidso operates through the following key business segments:
a) Procurement & Supply Chain Solutions
Description: Offers AI-powered solutions to optimize sourcing, pricing, and inventory management.
Key Clients and Markets: Serves e-commerce retailers, manufacturers, and SME businesses looking for efficient and cost-effective procurement.
b) Technology Integration
Description: Provides data analytics, supplier management, and automated procurement tools.
Competitive Advantage: Enhances operational efficiency through data-driven insights and digital integration.
c) Revenue Streams
Bidso generates revenue through:
- Transaction Fees: Commission on every successful procurement transaction.
- Subscription Services: Premium membership for businesses to access exclusive suppliers and insights.
- Value-Added Services: Logistics support, financing, and procurement consulting.
What Problem is the Startup Addressing?
Bidso aims to solve inefficiencies in the traditional B2B procurement industry, such as:
- Fragmented Supply Chains: Connecting buyers with verified suppliers in real-time.
- Price Volatility: AI-driven price optimization ensures cost-effective procurement.
- Manual Processes: Digital transformation of procurement to reduce delays and inefficiencies.
By leveraging data, automation, and AI, Bidso ensures a more transparent, cost-efficient, and scalable procurement system for businesses.
Key Financial Numbers
- Revenue (Latest): ₹50 crore ($6 million) as of March 31, 2024
- Profitability: ₹5 crore ($600K)
- Growth Rate: 35% year-on-year
- Funding: Raised $10 million from Sequoia Capital and Accel Partners
- Market Valuation: $100 million as of January 2024
About the Founders
Harshwardhan Lunia – Co-Founder & CEO
Education: MBA from IIM Ahmedabad
Professional Background: Extensive experience in fintech, B2B commerce, and supply chain management.
Role in Company: Leads strategic planning, product development, and business expansion.
Manish Lunia – Co-Founder & CFO
Education: MBA in Finance from XLRI Jamshedpur
Contributions: Oversees financial strategy, fundraising, and investor relations.
