E-distributor Just Buy Live Enterprise, has recently raised $100 million funding from Ali Cloud Investment, a Dubai-based boutique investment banking firm. Just Buy Live connects shopkeepers with consumer brands.
Launched back in 2016, te Just Buy app is used by retail outlets, from paanwallas and kiranas to supermarkets, chemists, mobile stores and electronic shops. As of September 2016, the app hosted over 5 lakh products from 2,600 brands across categories such as food, personal care, auto, mobile, tech, home, stationery and others.
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The company runs on a brand-to-retail business model wherein retailers buy goods directly from brands. Several aggregated companies on its platform include Apple, Xiaomi, Samsung, Micromax, YU Mobiles, Oppo, Patanjali, ITC, P&G, Unilever, Coca-Cola, Pepsico, Amul and Nestlé.
Earlier it had raised $20 million in January 2016, in a Series A round led by Alpha Capital.
The company was founded and is majority-owned by Sani and Bharat Balachandran. Sani, who is also chairman of Sahil International (channel partner to global audio and infotainment giant Harman International), had seed-funded Just Buy Live by investing $5 million in his personal capacity as per the source VCCircle.
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