B2B (business- to- business) SaaS(software- as-a-service) platform for import and import, has raised $1.2 million in a seed- stage backing round. The company bagged the backing from the launch- up entitlement from the Government of Gujarat and Soha gambles. Also, multiple angel investors also invested in the company. With this rearmost infusion, Soha Ventures made its incursion into the invention space of lab- grown diamonds, gems and jewelry.
The company is run by Chirag Limbasiya and Sumeet Prakash. The company plans to use the fund for expansion. Also, it wants to develop its product as well as wants to strengthen its brand conditioning. In a statement, the company claims to streamline and digitise the import and import process including logistics, fiscal operation and compliance. It aspires to be the commanding platform in this space. India’s import and import request plays an important part in the country’s profitable development. As per the RBI, the nation’s import and import request was pegged at $58.22 Bn and $69.33 Bn independently, in November last time (2022).
Nevertheless, the import and import sector has still not borne the fruits of technology as it largely operates offline and lacks digitisation, as well as robotization, in its processes. “In import and import space, everything is homemade and therefore, there’s no structure or record of attestation. Due to the increased processing time, importers and exporters aren’t always connected with their clearing agents or banks or insurance, which in turn takes time to return them toward any issues pertaining to attestation or consignment or payload,” said Sunil Kharbanda, cofounder of TreZix.
Add to that, detainments in responding or resolving an issue lead to heavy penalties assessed on importers and exporters and also, begets problems in managing their working capital. Previous to that, in 2020, the incipiency presented its frame to the Government of Gujarat and was latterly introduced to the Chambers of Commerce, which brought numerous guests to the incipiency for beta testing and perfecting the platform. Aiming Across India Expansion During the beta testing, TreZix entered a range of feedback from guests on what India’s import and import assistance would need.