Tech Start-Up Bizzo Garners $2 Million in Funding

Bizzo, a Covid-born tech start-up founded to enable the digitization of small and independent service businesses, has received a USD 2 million investment from a strong investor community led by ICICI Bank and Orios Venture Partners. Bizzo’s plan to help service entrepreneurs digitally build, scale, and organize their businesses will be accelerated with this new funding infusion.
Bizzo’s funding announcement coincides with a number of other market developments that are fostering a more favorable environment for tech-led innovation in open digital commerce. The Open Network of Digital Commerce (ONDC) initiative of the Government of India is the most prominent. Major financial institutions like ICICI Bank, SBI, and CSC have already announced significant investments in ONDC, an open architecture-based UPI-like platform for trade in goods and services. Bizzo’s vision is thus consistent with the overall market direction, as it seeks to develop a universal seller-side app to facilitate service digitization.
Over the last decade, small and independent service businesses have lost their own branding and pricing power, as well as profit margins, due to hefty commissions charged by aggregators. Furthermore, the Indian services sector is largely unorganized, with over 100 million small and independent service businesses in desperate need of full-stack solutions to connect directly with their customers. Bizzo aims to alleviate these issues by restoring power to these service-preneurs, allowing them to reconnect with their customers and control all aspects of their business.