The mobile marketplace for products and services, HeyBiz has raised an unspecified sum in seed round of funding from eCommerce ShopClues. The startup will use this fund for strengthening its product offerings as well as seeking new affiliations. It is also planning to expand its services to some other cities like Chandigarh, Amritsar, Ludhiana, Lucknow and Jaipur in near future.
HeyBiz is a hyperlocal marketplace for products and services that connects businesses and customers on mobile phones. HeyBiz was founded in January 2015 and currently available for both Android and iOS platform. It is a platform that provides sales marketing support (SMS) to businesses at anytime and from anywhere.
ShopClues is a Gurgaon based online retail store that has more than 200,000 products with more than 12,000 merchants. The online shopping portal is also planning to invest almost $50 Million for either buying stakes or acquiring up to eight startups for expanding its business in Indian eCommerce market. It is also looking to raise its next funding round in the current financial year. The funding amount is still undisclosed.
This news comes after mobile payment service provider Paytm had acquired on-demand hyperlocal service provider Near.in in cash and stock deal. It looks like the ShopClues is also planning something like its competitor to expand its business in one of the fastest growing eCommerce market, India.