Sourcewiz –backed by Matrix Partners India raised Rs 20 Cr

Sourcewiz is a Software-as-a-Service or we can say (SaaS) startup for exporters. Sourcewiz has recently made an announcement of raising Rs 20 crore in its pre-Series A. The particular round is backed by Matrix Partners India, 100x Entrepreneur, Bizongo, and Oyo.

Sourcewiz is a Gurugram and Bengaluru-based startup which is planning to utilize the fresh funding capital in the following ways:

To increase its team size and expand to 10 more manufacturing hubs,
To bring new channels of demand for its partner manufacturers across apparel, home textile, handicrafts, gems, jewelry, furniture, and
To access newer geographies or newer channels.

Sourcewiz was founded by y Divyaanshu, Vikas Garg, and Mayur Bhangale in the year 2021. Sourcewiz enables the lifestyle export industry to digitize its sales and marketing operations such as product designing, cataloging, creating quotations, invoicing, and trade show management.

In the current scenario, the company is operating across various hubs like in Delhi, Panipat, Moradabad, and Jaipur. The company has included 500 small and medium-sized businesses as its customers.

EXECUTIVE OPINION;

“We want to be a full-stack platform for any exporter in this country, giving them everything from the digitization of the factory to streamline their supply chain to getting them new demand,” said Divyaanshu.

“Factory SaaS is a particularly hard sector where tech adoption has traditionally been a challenge. Indian SMBs are also traditionally hard users to monetize through SaaS. Sourcewiz has created a product that factories love, demonstrated by great sales traction and strong engagement numbers,” said Sajith Pai from Blume Ventures and Anirudh Singh from Alpha Wave Global.

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Sourcewiz –backed by Matrix Partners India raised Rs 20 Cr

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