Sourcewiz, a New Delhi, India-based software-as-a-service (SaaS) platform focused on digitization for exporters and export factories, announced that it raised $2.5 million (Rs 20 crore) in the pre-series A round led by Matrix Partners India and marquee angel investors.
These include 100x Entrepreneur Fund, Aniket Deb (co-founder, Bizongo), Wami Capital (family office of Transworld Group), and Rohit Kapoor (Global CMO, Oyo.
With the latest round of funding, the company plans to expand its team to over ten hubs across the sub-continent to continue to solidify its position as a market leader in factory enablement.
Sourcewiz also plans to deepen its offering to customers by helping them access newer demand channels and automate other aspects of factory operations such as procurement and payments.
Company: Oritur Technologies Pvt. Ltd.
Round: pre-Series A
Funding Month: June 2022
Lead Investors: Matrix Partners India
Additional Investors: 100x Entrepreneur Fund, Aniket Deb, Wami Capital, and Rohit Kapoor
Company Website: https://www.sourcewiz.co/
Software Category: B2B Digitization platform
About the Company: Founded in July 2021 by Makkar and Vikas Garg and Mayur Bhangale, Sourcewiz built a platform to digitalize the operations of exporters and grow their revenue at a time when the pandemic crippled their business. Using the Sourcewiz platform, exporters have been able to cater to more buyers, increase sales conversion rate, and reduce sampling costs, the team plans to expand its suite of offerings to include digital payments, online financing, and tech-driven logistics. Sourcewiz has a presence in four export hubs - Delhi, Panipat, Moradabad, and Jaipur - and seeing demand from other domestic and international markets such as Pakistan and Bangladesh.