Sourcewiz, a Gurugram, India-based software-as-a-service (SaaS) platform that digitalizes operations for exporters, raised $3 million in a seed funding round led by Blume Ventures and Alpha Wave Incubation.
The fundraising saw the participation of angel investors like Ravi Bhargava (Former CEO, Arvind Ltd.), Rakshita Agrawal (GM at Wayfair USA), Dhruvil Sanghvi (Loginext), and Ashish Tulsian (Posist).
The capital will be used to expand its engineering, product management, sales, and customer success teams.
Round: Seed Round
Funding Month: October 2021
Lead Investors: Blume Ventures and Alpha Wave Incubation
Additional Investors: Ravi Bhargava, Rakshita Agrawal, Dhruvil Sanghvi
Company Website: https://www.sourcewiz.co/
Software Category: (SaaS) platform that digitalizes operations for exporters
About the Company: Founded in 2021 by second-time entrepreneurs Divyaanshu Makkar, Vikas Garg, and Mayur Bhangale, Sourcewiz has built a platform to digitalize 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. The company is currently focused on India but has plans to expand offerings to other Asian countries such as Bangladesh, Indonesia, and Vietnam.