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Industrybuying

Industrybuying

IndustryBuying.com is an Indian E-commerce marketplace for industrial goods and supplies headquartered in New Delhi. IndustryBuying caters to the steadily rising B2B segment of Indian industrial E-commerce Sector. It has over 1.5 million (15 Lakh) products listed on its website and hosts over 3500 plus brands in over 45 categories and 5000 plus suppliers. [1]

Industrybuying
Private
IndustryInternet
Founded2013
FoundersSwati Gupta
Rahul Gupta
HeadquartersGhitorni, Delhi, India
ServicesE-commerce
(Online shopping)
SloganE- Commerce For Business
Websiteindustrybuying.com/

History

IndustryBuying.com was founded in 2013 by the brother-sister duo of Rahul and Swati Gupta.

It all began when Rahul, an IIT Delhi and Columbia University alumnus moved to India and left his lucrative Wall Street job after spotting tremendous opportunity in India’s vastly untapped B2B segment. To fulfil his pursuit he joined his sister Swati, a DCE and Carnegie Mellon University alumnus who has over 14 years of private equity advisory & management consulting experience to bolster IndustryBuying’s operations. Industry Buying allows various kinds of payment methods on its portal such as cash on delivery, debit & credit card transactions, wallet, Cheque NEFT and net banking.In Jan 2016 announced its partnership [2] [3] with Grainger to expand its product catalog.

Funding

IndustryBuying snapped up US$2 million or approximately 13.5 crores in its first round of funding from SAIF Partners in February 2015. [4] Then, in September 2015, IndustryBuying secured Rs 60 Crores (US$9 Million) in Series B fundingled by Kalaari Capital, with active participation from SAIF Partners and. [5] [6] So far IndustryBuying has accrued a total of US$11 Million worth of funding in 2 rounds from 3 investors. As of December 21, 2015 Industry buying snapped up undisclosed funding in round two of Seed B investment from Murugappa and TVS families. [7] [8] As of January 2016, IndustryBuying raised Rs.12 Crore in funding from venture debt provider, Trifecta Capital. [9] [10]

Overview

IndustryBuying maintains a one-stop shop model with zero inventory and has seen good traction already on its portal with orders doubling on a month-over-month basis.

The company is omnipresent in both online and offline markets and its current customers include Havells, RPG, Honeywell, Tata Power among others. IndustryBuying is well poised and on the verge of being a major stakeholder in the burgeoning $500 billion industrial e-commerce market in India that is still in its nascent stages.

References

[1]
Citation Linken.wikipedia.orgThe original version of this page is from Wikipedia, you can edit the page right here on Everipedia.Text is available under the Creative Commons Attribution-ShareAlike License.Additional terms may apply.See everipedia.org/everipedia-terms for further details.Images/media credited individually (click the icon for details).
Jul 17, 2016, 7:01 PM
[2]
Citation Linkdealstreetasia.com"India: B2B online marketplace Industrybuying.com secures $1.8m from Trifecta Capital"
Jul 17, 2016, 7:01 PM
[3]
Citation Linkbusiness-standard.com"Industrybuying.com partners Grainger to expand product catalogue"
Jul 17, 2016, 7:01 PM
[4]
Citation Linkretail.economictimes.indiatimes.com"Industrybuying.com partners Grainger to expand product catalogue | ET Retail"
Jul 17, 2016, 7:01 PM
[5]
Citation Linkmoneycontrol.com"SAIF Partners to invest USD 2 million in industrybuying.com"
Jul 17, 2016, 7:01 PM
[6]
Citation Linklivemint.com"Industrybuying.com raises Rs60 crore from Kalaari Capital, others"
Jul 17, 2016, 7:01 PM
[7]
Citation Linkgadgets.ndtv.com"India Funding Roundup: IndustryBuying, OnlineTyari, Instacab, Nudge Foundation"
Jul 17, 2016, 7:01 PM
[8]
Citation Linkbusiness-standard.com"Murugappa, TVS groups invest in Industrybuying, a B2B online marketplace for industrial material"
Jul 17, 2016, 7:01 PM
[9]
Citation Linkthehindubusinessline.com"Murugappa and TVS families invest in Industrybuying.com"
Jul 17, 2016, 7:01 PM
[10]
Citation Linkthehindubusinessline.com"Industrybuying raises 12 crore in debt"
Jul 17, 2016, 7:01 PM
[11]
Citation Linkarticles.economictimes.indiatimes.com"Industrybuying gets Rs 12 crore from Trifecta Capital"
Jul 17, 2016, 7:01 PM