YantraLive Raises $1Million in Seed Round
The funds will be utilized to upgrade its technology platform and launch new product categories
YantraLiv, India’s leading B2B platform for heavy equipment and parts, has raised $1 million in a Seed round from GrowthStory and other angel investors including Bigbasket’s Vipul Parekh. The startup’s existing investors also participated in the round.
YantraLive said it will utilize the capital to upgrade its technology platform, launch new product categories as it aims to enhance its market penetration across India. The startup primarily caters to infrastructure firms, fleet owners and servicing workshops spread across the country, said a statement..
“The heavy equipment market has been untouched by digital technologies and is ripe for disruption. YantraLive was born with this insight and with a mission to eliminate downtime and idle time of heavy equipment through technology-led innovations. Today, we are thrilled to receive the backing of Vipul and GrowthStory as we get ready to scale YantraLive,” said Ravi Anand Rao, co-founder at YantraLive.
“The heavy equipment industry is complex, comprising myriad stakeholders and requires significant domain expertise before one can create the right solution for this industry. Having known the YantraLive team since inception, I believe that this team has the domain knowledge and technology expertise to address the needs of customers in this industry,” said Vipul Parekh, co-founder of BigBasket.
YantraLive is a B2B platform for heavy machinery equipment and parts catering to Infra firms, equipment owners and service workshops. YantraLive is redefining heavy equipment ownership by building industry first solutions to trade pre-owned equipment, helping owners maintain their equipment by supplying the right parts and services on time. YantraLive has so far serviced over 1,000 customers and delivered more than 10,000 SKUs, added the statement.