Bengaluru: Industrybuying, one of India’s largest B2B e-Commerce company, announces that it has raised Rs.60 crore in its Series B fundraising led by Kalaari Capital. Its existing investor SAIF Partners along with BEENEXT also made significant contributions to the funding round. The fresh capital will enable the company to further develop its e-Commerce platform, establish nationwide sales force and develop a full-fledged online portal to sell digital offering of B2B brands. This is the company’s second fundraising this year; the previous funding being in February where it had raised $2 million from SAIF Partners.
“We saw large and successful businesses like Grainger.com, Amazon business in the U.S., Alibaba’s B2B transaction business 1688.com in China and realized that there was a gap in India – at that time nobody was looking at online B2B models. We also had the advantage of a background in industrial distribution through our family business. We launched the platform in 2013 and since then there has been no looking back,” says Swati Gupta, Co-Founder, Industrybuying.com.
Speaking on the new investment, Vani Kola, Managing Director, Kalaari Capital says, “We are very excited about B2B ecommerce in India. We have watched Industrybuying.com take the lead in this space and are glad to become a part of their growth journey. We hope to leverage our learning from B2C ecommerce and apply them to this wave of disruption in the B2B space”.
Industrybuying.com was founded by the brother-sister duo of Rahul Gupta and Swati Gupta. The company sells manufacturing, construction, maintenance and other servicing products from various brands under a single roof. It has over 15,000 registered SMBs’ 250,000 products listed on its platform; all available at very reasonable rates. The company mainly focuses on the businesses in hospitality, manufacturing, construction, pharma manufacturers, services and hospitality sectors.