wordpress blog stats
Connect with us

Hi, what are you looking for?

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 distributors and manufacturers of items as sellers, and publishes a blog with industrial tech guides, prices of goods in different locations, industry relevant news and various guest posts. Other startups in this space include Power2SME and Moglix which mostly focus on industrial or SME level buying and selling.

B2B marketplace in India

The Indian government allowed 100% FDI in B2B sector, with some restrictions, back in 2012. Following the policy change, several startups were setup in India as the B2B space saw active investments from both individual investors and venture capitalists.

Advertisement. Scroll to continue reading.

Currently the B2B industry in India is led by companies like Tolexo which claims to have over 7,000 sellers listing over a million products and IndiaMart which claims 26 lakh sellers listing over 4 crore products. B2B giant Alibaba is also operational in India and had opened global reselling to Indian merchants last year. Amazon India also launched its B2B supply services for SMEs in India last year and committed an investment of Rs 115 crore into the unit in September. Walmart had launched its B2B marketplace in India back in 2014.

Apart from this some notable startups in the B2B space include VegFru, an online B2B marketplace that connects small and large farmers with suppliers. Similarly, Ninjacart helps supermarkets, kirana stores and small shops to buy fresh fruits/vegetables, and FMCG products from farmers and independent brands. Udaan, which raised $10 million last month, currently deals with mobile accessories and fashion products.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...


Releasing the policy is akin to putting the proverbial 'cart before the horse'.


The industry's growth is being weighed down by taxation and legal uncertainty.


Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ