Industrybuying raises Rs. 60cr to strengthen its platform

NEW DELHI, INDIA: Industrybuying.com has announced that it has raised funding of Rs. 60 crore led by Kalaari Capital, with participation from SAIF Partners and BEENEXT.

The company had raised their Series A from SAIF Partners earlier this year. The company intends to use the funds to further develop its ecommerce platform, establish nationwide sales force to target businesses throughout India, increase the vendor base and develop a full suite of digital offerings for B2B brands to sell online.

“We saw large and successful businesses like Grainger.com, Amazonbusiness in the US, 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” said Swati Gupta, co-founder, industrybuying.com.

“B2B is a different model from B2C. The products are of repeat, essential nature, the customer behavior is sticky and building the product catalogue non-trivial. Our objective is to build a scaled and profitable business by focusing on creating a robust technology back-end and a large ecosystem of vendors and service providers that solves the B2B buyer pain points” added Rahul Gupta, co-founder, Industrybuying.com.

Industrybuying.com is an online marketplace selling industrial products to SMEs as well as large businesses. The company has over 15,000 registered SMEs shopping from the portal attracted by their comprehensive product catalogue, quality assurance and best available prices.