Brother sister duo led venture Industrybuying.com aims to be a one stop shop for industrial supplies The start-up aims to meet the buying needs of small and medium sized enterprises and offline businesses.
By Entrepreneur India •
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India's B2B e-commerce market opportunity is currently valued at $300 billion and the same is expected to expand to $700 billion by 2020, according to a Walmart report. Sensing the estimated growth of $400 billion over the next 5 years, B2B e-commerce is entering a transformative phase and more and more start-ups are emerging in this space attracting a lot of investors' interest as well.
Founded in May 2013 by brother sister duo – Rahul and Swati Gupta, the B2B e-commerce platform Industrybuying.com is owed and operated by Delhi-based MTech Engineering Private limited. Alumnus of Columbia University, Rahul was previously associated as a trader with Lehman Brothers. Whereas, Swati is a former employee of Bain & Co and has 12 years of management consulting and private equity advisory experience in New York and India.
Recently, Industrybuying.com announced to secure Rs 60 crore in Series B round of funding led by Kalaari Capital, with participation from BEENEXT and other existing investors like SAIF Partners. Prior to this, in month of February, the start-up had also raised $2 million in Series A round of funding from SAIF Partners. The start-up plans to utilise the latest round of funding to grow its e-commerce platform.
The start-up aims to meet the buying needs of small and medium sized enterprises and offline businesses. It even serves large enterprises like Motherson Sumi, Tata Power, Haveli, Honeywell, Siemens and Unilever. With a vision to be India's largest one stop provider of industrial supplies – both online and offline, the venture operates on a zero inventory model, where it sources products from vendors and ships to customers who order through the website.
Industrybuying.com claims to have over 250,000 products across 40 odd categories like manufacturing, construction, maintenance, services and commercial operations. It further claims to work with more 1,000 brands across country. It mainly counts companies in sectors such as FMCG, hospitality, manufacturing, construction, automotive, pharmaceuticals, services and others as clients.
