Mysore-based e-commerce platform BuyEazzy has secured $4.25 million in a Series A funding round led by Info Edge Ventures with participation from existing Pg investors Incubate Fund Asia and M Venture Partners.
The funds raised in this round will be utilised towards expanding BuyEazzy’s presence to 40+ cities, onboarding 2M+ offline users, and continuing to disrupt the traditional supply chain in Bharat.
The company is currently operational in 10 Tier 2/3 cities in Karnataka and Tamil Nadu and plans to reach 40+ cities in the near future.
Founded in May 2021 by Rahul Aggarwal and Hariher B, BuyEazzy caters to consumers’ unfulfilled beauty and wellness needs in Tier 2+ cities, where access to a wide assortment of beauty products is limited. By leveraging the trust between neighbourhood store owners and consumers, BuyEazzy offers a convenient online shopping experience with access to a wide assortment, competitive prices, and reliable delivery.
E-commerce penetration for beauty in these regions is less than 5%, primarily due to the trust deficit between online platforms and offline users, long delivery times, and product authenticity and quality issues.
The startup earlier raised $1 Million in August 2022.