Sindabad, The B2B E-commerce Platform, Raises $4 Million
Sindabad, the B2B e-commerce marketplace that aims to build a friction-less experience for B2B customers and a platform for anything and everything that an office needs – usual operational and consumable items, announced that it has raised US$4.15 million in Series A funding. First reported by Deal Street Asia, the round is led by Indian impact investment firm Aavishkaar. This is Aavishkaar’s third investment in Bangladesh from its $75 million Aavishkaar Frontier Fund.
Launched in June 2016, Sindabad has built a platform for office supplies, manufacturing, consumption, operational and consumable items for offices. It offers a direct-to-office delivery option to businesses, factories and offices and organizations of any size and type. The company has seen steady growth over the past years. It claims to serve over 500 corporate organizations and over 2,000 small organizations with an average growth of north of 15% every month. The company manages three warehouses and has been investing in developing a hyper-local logistics model to improve logistical efficiency.
Sindabad is operated Zero Gravity Limited which now employs over 250 people. The company previously raised an undisclosed round from Frontier Fund, a Bangladesh focused equity fund managed by Brummer and Partners Bangladesh.