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OfBusiness raises $11M from Zodius and existing investors

Gurgaon-based OfBusiness, an online marketplace for business-to-business (B2B) ecommerce, has raised $11 million in its series B round of funding led by Zodius Technology Opportunities Fund, and participation from existing investors Matrix Partners & other angel investors, reports Vccircle. The company will use the funding to expand to other locations and introduce other goods like consumables. Earlier this year, OfBusiness had raised $5 million in funding from Matrix Partners India and angel investors like Apoorva Patni, Bhavish Aggarwal, and Prashant Malik. As of now, the ecommerce platform offers free registration and listing for sellers along with logistics support for delivery of orders. For buyers, OfBusiness provides credit provisions through tie-ups with several financial institutions. Currently, the platform lists products in steel, TMT, cement and various polymer and claims to sell in 10 states. It also claims to list over 1000…

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