AI-Powered Platform WizCommerce Secures $8M to Revolutionize Wholesale Sales
In a significant move to transform the wholesale distribution industry, WizCommerce, an innovative AI-driven sales and ecommerce platform, has successfully raised $8 million in Series A funding. The round was spearheaded by Peak XV Partners, with Blume Ventures, Z47, and Alpha Wave also participating.
WizCommerce, founded by Divyaanshu Makkar and Vikas Garg, aims to modernize the $10 trillion US wholesale market, which still largely relies on outdated manual processes. The startup’s platform seamlessly integrates quoting, storefronts, and ERP systems, empowering distributors to streamline sales management and automate various tasks.
The fresh capital injection will fuel WizCommerce’s expansion into the US market and further enhance its cutting-edge technology for sales, commerce, and payments in wholesale businesses. Currently, the platform boasts an impressive annualized gross merchandise value (GMV) of $200 million.
Makkar shared the company’s strategic plans with The Economic Times, stating, “We aim to strengthen our team, particularly in sales and marketing, and refine our go-to-market strategy.” He also revealed an exciting development: the upcoming launch of ‘AI employees’ for wholesalers, describing them as “autonomous agents for different pieces of the wholesale value chain.”
WizCommerce’s flagship offering is an AI-powered sales application tailored for wholesale sales representatives. This innovative tool provides real-time inventory access, enables personalized product recommendations for clients, and facilitates the creation of appropriate proposals. Additionally, the platform supports wholesalers and manufacturers in establishing their online presence, allowing their customers, such as retailers, to place orders independently.
The company’s solutions have already gained significant traction, currently utilized by 700 sales representatives and over 300,000 buyers across various sectors, including home decor, furniture, lighting, gifts, and general merchandise. WizCommerce has forged partnerships with prominent distributors like Avandium Trading, Turkana Food, and Arteriors Home.
Rishen Kapoor, VP at Peak XV Partners, highlighted the potential of WizCommerce, stating, “Distribution is still largely run on legacy systems. WizCommerce is addressing that gap with an AI-first product built for the industry’s day-to-day needs. Their early traction shows they’re well-placed to lead the shift.”
As WizCommerce continues to grow and innovate, it is poised to play a pivotal role in modernizing the wholesale distribution landscape, bringing much-needed efficiency and automation to this trillion-dollar market.
