Tata Steel’s B2MSME E--Commerce Platform, DigECA, Crosses ₹1,000 Crore GMV

Tata Steel today announced a significant milestone for its B2MSME e-commerce platform, DigECA, which has surpassed ₹1,000 crore in Gross Merchandise Value (GMV) in the current financial year (FY26). The platform has also recorded over 160 kilo tonnes (KT) in sales and onboarded more than 3,500 Micro, Small and Medium Enterprises (MSME) customers, underscoring its growing role as a catalyst in the digital transformation journey of India’s MSMEs, known as Emerging Corporate Accounts (ECAs) within Tata Steel.

Designed to make steel buying simple, transparent and efficient, DigECA offers ECAs an integrated, omni-channel experience with features such as embedded financing options, real-time order visibility, and dedicated technical support. The platform primarily focuses on flat steel products including Tata Astrum, Tata Steelium, and Galvano, bringing together quality assurance and digital convenience under one ecosystem.

Prabhat Kumar, Vice President - Marketing & Sales (Flat Products), Tata Steel, said: “Surpassing ₹1,000 crore GMV and 160 KT in sales is a testament to the trust our ECA customers place in DigECA. This platform is not just about transactions - it’s about building meaningful relationships, enhancing customer experience through seamless integration of MSME value chain, and aligning our services with their evolving business needs.”

Since its pilot launch in fourth quarter of Financial Year 2024-25, DigECA has registered a 30x growth, driven by Tata Steel’s relentless focus on innovation, customer-centricity, and digital enablement. The platform’s growth mirrors Tata Steel’s broader vision to digitalise the steel supply chain and promote inclusive growth across India’s industrial ecosystem.

With DigECA, Tata Steel continues to lead the way in digital transformation, equipping ECAs with the right tools, services, and support to achieve their business aspirations and contribute to India’s industrial progress.

Drip Capital secures $50M credit facility from TD Bank to scale SMB trade finance across North America

• Drip Capital’s total debt funding raised to date exceeds US$500 million, supported by global partners including Barclays, World Bank’s International Finance Corporation (IFC), and East West Bank
• Drip Capital has financed over USD$8 billion in trade transactions for more than 11,000 firms across 100+ countries since inception

Drip Capital, a digital trade finance and B2B e-commerce company, has secured a US$50 million committed credit facility with an additional $25 million accordion feature from Toronto-Dominion Bank (TD Bank), one of the top ten banks in North America.

Pushkar Mukewar, Founder & CEO, Drip Capital

The partnership marks Drip Capital’s first engagement with TD Bank. The facility will support the company’s Buyer Finance programme across North America while reinforcing its leadership in cross-border SMB financing globally. With this round, Drip Capital’s total debt funding raised to date exceeds US$500 million, supported by global financial partners including Barclays, the World Bank’s International Finance Corporation (IFC), and East West Bank. 

India’s small and mid-sized businesses (SMBs) power nearly 40% of the nation’s exports, yet many still face cash flow gaps and limited access to formal credit. Drip Capital bridges this gap by giving exporters instant access to working capital through its non-recourse receivables factoring solution, where they’re paid upfront for their overseas shipments by Drip Capital, which, instead of the exporter, takes on the risk of payments from the overseas buyers. This approach allows SMBs to grow their business confidently without tying up collateral or worrying about buyer defaults.

Since its inception in 2016, Drip Capital has financed over US$8 billion in trade transactions for more than 11,000 firms across 100+ countries, including thousands of Indian exporters in sectors such as agro commodities, textiles, chemicals, and engineering goods. In FY24–25 alone, the company disbursed over US$2 billion, with India continuing to be one of its largest and fastest-growing markets.

“This partnership with TD Bank reinforces global confidence in Drip Capital’s business model and the strength of Indian fintech on the world stage,” said Pushkar Mukewar, Founder and CEO, Drip Capital. “Our mission is simple: to make global trade more accessible for small businesses. Whether in India, or outside, SMBs need reliable financing and trusted trade partners to compete. This facility allows us to extend that support at scale.”

“Every company can benefit from having a collateral-free, flexible credit line to procure goods and services and manage working capital better. Despite our rapid growth, we’ve only scratched the surface. Drip Capital is quietly financing the supply chains behind millions of purchases across the globe,” Mukewar added.

GVFL Backs DCGPAC's Sustainable Packaging Push with ₹15 Crore Pre-Series A Investment

GVFL, India’s pioneering venture capital firm, has led a Rs. 15 crore pre-Series A round in DCG Tech Limited, a leading B2B platform for packaging, warehouse solutions, and procurement. GVFL has invested Rs. 10 crores in the round, while Auxano Capital and the promoters have participated in the investment round.

Founded in 2005 by logistics veterans Suresh Bansal and Subhasish Chakraborty, DCG Tech (trade name: DCGPAC) was founded to address the packaging needs of MSMEs, e-commerce and quick-commerce brands by offering them a one-stop, cost-effective solution. With over 60,000 customers and 750 million packaging products delivered, the company has established a strong presence through eight fulfilment centres, six sales offices, and a Design and Innovation Centre. It also has a subsidiary in Dubai.

DCGPAC offers a tech-enabled, end-to-end procurement and distribution platform that provides over 10,000 SKUs across 78 categories. It delivers packaging and warehouse products nationwide. The firm’s solutions, such as Design to Distribution, Packaging as a Service, EcoPac for Sustainable Packaging, and the ProPac Platform, aim to bring efficiency and cost-effectiveness to businesses of all sizes.

The newly raised capital will be utilised to accelerate growth, enhance platform technology, and expand international operations. DCGPAC also plans to introduce innovative models such as RePac for reusable packaging to support circular economy and warehouse products.

Commenting on the investment, Mihir Joshi, Managing Director of GVFL, said, “We see a huge potential in DCGPAC’s mission to revolutionise packaging supply chain in India through a robust technology platform and deep supply chain integration. It has already carved a niche in the segment. We are confident that its pan-India reach, strong leadership, and customer-centric innovations make it ideally positioned to become a market leader in this fast-growing segment.”

Suresh Bansal, Founder and CEO of DCGpac

Suresh Bansal, Founder and CEO of DCGpac, said, “This funding round marks a strategic milestone in our journey. With the backing of GVFL and other investors, and our roadmap of smart manufacturing, AI-based technology, and sustainable packaging solutions, we are poised to lead the next phase of growth in the B2B commerce space. Our goal is to become India’s most preferred packaging and commerce platform for businesses. This funding will go a long way in helping us achieve our target of 10x growth in the next five years.”

DCGpac had earlier raised funds in its first seed round from marquee investors, including Haldiram’s and Saudi Arabia-based Zajil. Angel networks like IPV, VCATS and 9Unicorns were among the investors. With the latest round, the company is set to scale operations, launch new services, and accelerate its growth.

Tata Steel Unveils DigECA, a one-stop digital steel Buying Platform, for MSME customers

Tata Steel today launched a new version of DigECA, expanding access beyond channel partners to include Micro, Small and Medium Enterprises (MSMEs), broadly classified as Emerging Corporate Accounts (ECA) by Tata Steel. DigECA is a groundbreaking B2MSME e-commerce platform specifically designed to meet the needs of ECA customers, enabling them to transact directly with ease and convenience while accessing the highest quality products and services.

Building on the success of Tata Steel’s B2C e-commerce portal, Aashiyana, DigECA envisions a revolution in the customer journey for ECAs. The platform focuses on flat products such as Tata Astrum, Tata Steelium, and Galvano, providing MSMEs with hassle-free purchase experience with Tata Steel and its channel partners.

Since the pilot launch in Q4 FY25, DigECA has experienced impressive growth, onboarding over 2,000 ECA customers and achieving significant milestones in its Gross Merchandise Value (GMV). This growth reflects our commitment to empowering customers with complete transparency regarding material availability and order fulfillment, ensuring a seamless process from enquiry to delivery, further augmented with post-supply services.

Prabhat Kumar, Vice President, Marketing & Sales (Flat Products), Tata Steel, said: “At Tata Steel, we are committed to enhancing customer satisfaction through digital innovation. With the launch of DigECA for our ECA customers, we are simplifying the steel buying experience and strengthening their direct engagement with Tata Steel. The platform is designed to enable a more connected and efficient relationship between customers and our distribution network, helping us better align our offerings with evolving market needs.”

With DigECA, Tata Steel reinforces its expertise in technology and innovation to deliver an unparalleled experience for customers, setting the stage for a thriving future. The Company is dedicated to ensuring that its ECAs feel supported and valued in the collective pursuit of meeting the business aspirations.

JSW One Platforms Raises Fresh Capital of ₹340 Cr, Enters Unicorn Club

JSW One Platforms Ltd., India’s leading tech-led B2B e-commerce platform, has raised ₹340 Cr of fresh capital, led by Principal Asset Management, OneUp, JSW Steel, and other investors. This round brings the company’s valuation to $1 billion, earning it a coveted unicorn status.

This milestone marks a valuation jump of over 3x from its earlier round of funding in April 2023, a testament to the platform’s strong product-market fit, resilient supply chain, and rapid business execution in just four years.

The capital raised will strengthen national supply chain leadership in steel and cement categories, deepen distribution and logistics networks across India, scale the fintech and NBFC arms, and enable wider access to credit for MSMEs. This will be enabled by building a robust tech stack that creates a truly integrated and digital procurement journey for small businesses.

By offering an end-to-end ecosystem, including commerce, credit, and fulfilment, JSW One aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country.

Parth Jindal, Chairman, JSW One Platforms, said, "JSW One Platforms is more than a marketplace, it’s how India's MSMEs procure, finance, and grow. We're solving critical pain points by combining our tech-led distribution model with JSW Group's strength in manufacturing. We are well-positioned to fulfil the ambitions of India's expanding MSME sector."

Gaurav Sachdeva, Joint Managing Director & CEO, JSW One Platforms, added, "JSW One’s goal is to enable reliable procurement for MSMEs through quality materials, timely delivery, and the right credit solutions. This capital allows us to expand our service network, scale our private brands and NBFC arm, and invest further in tech and logistics. We’re building a supply chain that will continue to add efficiency for MSMEs across India."

In April 2023, JSW One raised ₹205 Cr in funding from Japan’s Mitsui & Co., which helped scale its credit and logistics capabilities and expand into new markets.

Airtel's B2B Arm and Cisco Launch Airtel Software-Defined (SD) Branch for Enterprise Networking Solutions

Airtel Business, the B2B arm of Bharti Airtel (Airtel), and Cisco, the worldwide leader in networking and security, today, launched Airtel Software-Defined (SD) Branch — a simple, secure, cloud-based, end-to-end-managed network solution for enterprises.

This new solution leverages the Cisco Meraki platform to provide centralized management, scalability, and robust connectivity across multiple locations.

The SD-Branch solution aims to enhance network performance, security, and flexibility, making it easier for enterprises to manage their network infrastructure efficiently. This is particularly beneficial for businesses operating in dispersed environments with distributed applications.

The Airtel SD-Branch solution, powered by Cisco Meraki, offers several key features designed to simplify and secure enterprise networking:

1. Centralized Management: Unified management of networks across LAN, WAN, and security from a single dashboard.

2. Intuitive Dashboards: Real-time analytics and insights into network performance, devices, and location data.

3. Automated Processes: Streamlined operations with automated network provisioning and management.

4. Advanced Security: Enhanced security features including malware protection, content filtering, identity-based firewall, and intrusion prevention.

5. High-Performance Connectivity: Robust connectivity solutions tailored to meet specific business requirements.

6. Scalability: Easily scalable to accommodate business expansion and changing network needs.

7. Cost Optimization: OPEX-based pricing model and shared resources to reduce costs compared to multiple vendor solutions.

These features aim to provide enterprises with a flexible, secure, and efficient network infrastructure, making it easier to manage and optimize their branch networks.

GM, Magna, and Wipro Join Hands To Develop B2B Automotive Software Marketplace ‘SDVerse’

General Motors (GM), Magna, and Wipro teamed up to develop a B2B sales platform for buying and selling automotive software

• SDVerse serves as a ‘matchmaking’ platform between buyers and sellers of embedded automotive software
• Focuses on matching automotive software buyers and sellers, over captive software development
• The digital platform increases transparency and reduces inefficiencies in software development and procurement
• Ampere*, FEV, Forvia, HL Mando, NXP Semiconductors, TTTech Auto, and Valeo lead a “Launch Partner” group supporting SDVerse
• Prashant Gulati has been named CEO of the new SDVerse organization effective March 5th, 2024

General Motors (GM), global automotive supplier Magna, and leading technology services and consulting company Wipro Limited, have teamed up to develop a B2B sales platform for buying and selling automotive software. The platform, called SDVerse, aims to revolutionize the automotive software sourcing and procurement process by providing a matchmaking platform for buyers and sellers of embedded automotive software.

Unlike the traditional captive software development approach, SDVerse focuses on connecting automotive software buyers and sellers through a transparent and efficient digital platform. Sellers can list their software’s features and attributes, while buyers can easily search and explore the available software products through a comprehensive catalogue.

Sales and purchases can be connected directly through the platform, offering a seamless experience for all participants. SDVerse is currently in development and expected to feature hundreds of automotive software products, and participants from across the automotive value chain are invited to join. In addition to the founding members, an exclusive “Launch Partner” group is already in place led by Ampere*, FEV, Forvia, HL Mando, NXP Semiconductors, TTTech Auto, and Valeo.

Prashant Gulati has been named CEO of SDVerse effective March 5th, 2024. Prashant has more than two decades of experience launching and leading automotive organizations and is a thought leader in software technology, maximizing the potential of emerging technologies, such as AI, in the automotive industry.

“The market for automotive software is expected to nearly double this decade, potentially outpacing the growth of software development talent pools,” said Harmeet Chauhan, Global Head Wipro Engineering Edge, Wipro Limited. “The current paradigm for software sourcing will likely not be able to overcome this growing gap without sacrificing both profitability and the auto industry’s aspirations for software defined vehicles. SDVerse addresses these pain points, offering a wide range of benefits across the industry.”

“Automotive grade software development is rapidly transforming, and we all need to ask ourselves how we get customers really unique differentiating features faster. Part of that is identifying the common underlying code that can be shared in the name of higher quality and lower costs for our end customers,” said Dan Nicholson, Vice President, Strategic Technology Initiatives, General Motors. “This first-ever software marketplace creates an independent, industry-driven one-stop-shop for embedded systems software, significantly expanding access to new innovations, helping to drive down cost, and allowing companies like GM to implement critical software more quickly.”

‪Potential key subscriber benefits of SDVerse include:‬‬‬

• Reduced cost, time, and complexity, by eliminating duplication of efforts, enabling reuse of already-developed software, and allowing higher economies of scale by bundling software orders through multiple clients.
• Higher quality of software, which has already undergone increased cycles of testing and validation. Additionally, the free-market approach improves customer vehicle quality through competition.
• Improved resource allocation, which allows OEMs and suppliers to deploy engineering resources to innovate in areas that improve and differentiate driver and passenger experiences, and minimize time spent ‘reinventing the wheel’.
• Improved revenue for sellers, through an expanded client base and opportunities to monetize existing IP.
• New approach to software sourcing, allowing companies to source software separately from hardware, and to create an attractive alternative to OEM insourcing of software development.

“Magna’s participation in SDVerse is driven by our ongoing commitment to foster collaboration and drive the automotive industry forward," said Joerg Grotendorst, Senior Vice President, Corporate R&D at Magna. "By embracing this innovative platform, we aim to create a more interconnected ecosystem that encourages OEMs, suppliers, and specialty software developers to collaborate and co-create cutting-edge solutions. SDVerse represents a transformative opportunity to revolutionize software development, sales, and sourcing processes, ultimately accelerating the industry's transition to the software-defined vehicle."

GM, Magna, and Wipro collectively designed and developed SDVerse, which will be governed collaboratively by the founding members. Global strategy consultant Roland Berger has served as the project’s strategic advisor since the program’s inception.

Konstantin Shirokinskiy, Partner, Roland Berger added, “SDVerse offers a blueprint for OEMs and suppliers to address their embedded software needs more efficiently. It frees up scarce software engineering resources required to roll out new differentiated software features, reorganizes development timelines to more quickly develop better SW-enabled vehicles, and ensures software is valued properly. Companies can streamline their operations, becoming more focused, efficient, and profitable.”

On Thursday, April 4th, leaders from GM, Magna and Wipro will participate in a livestream panel discussion to provide further depth and insights into SDVerse. To register and to learn more about SDVerse, visit SDVerse.auto.

*Ampere is the EV and Software pure player of Renault Group.

Schaeffler India Acquires Koovers, A B2B Automotive Spares E-Commerce Startup

Addition of B-to-B e-commerce platform to act as a key enabler for the aftermarket ecosystem, including distribution partners

Koovers is a brand of KRSV Innovative Auto Solutions Private Limited

Acquisition of 100 percent of the shares via a share purchase agreement

Schaeffler India Limited today announced that the Board of Directors has approved the acquisition of 100 percent of the shares of KRSV Innovative Auto Solutions Private Limited (in the following “Koovers”), a Bengaluru-based private limited company offering spare parts solutions to Indian aftermarket workshops via a B-to-B e-commerce platform. This acquisition presents an ideal synergy for Schaeffler’s future aftersales activities in India. It will be a key enabler for the aftermarket ecosystem, including distribution partners and help to play an important role in the fast growing and evolving aftermarket digital landscape.

 

Koovers founders

Schaeffler’s Automotive Aftermarket division supplies components and holistic repair solutions for the automobile spare parts business worldwide and sees itself as an enabler of garages. With an overarching understanding of systems and comprehensive services, Schaeffler supports garages in complex repairs and at the same time contributes to extending the operating life of vehicles.

Founded in 2015, Koovers has established a B-to-B e-commerce platform offering spare parts solutions to aftermarket workshops in India. With revenues of INR 777 million in the financial year 2022-23, the company has a compelling growth story and is one of the fast-growing players in the Indian B-to-B e-commerce market.

Koovers had raised a total of $2.5 million in funding over two rounds. Their latest funding was raised on June 2022 from a Seed Round. Koovers' largest round was in year 2021 when it raised $1.5 million led by Inflection Point Ventures. Other investors in that round include JPIN-VCats and Venture Catalysts.

Koovers supplies to over 7,000 plus workshops and has a portfolio of around 1.8 million parts from various manufacturers. The platform will continue to operate under Koovers brand name.

“We are happy to announce the acquisition of Koovers, a milestone moment for Schaeffler in India. This will be a strategic step to maximize value creation through our repair solutions for all customers. Schaeffler Automotive Aftermarket’s ambition has always been to simplify workshop operations with plug and play products and solutions, while building consumer connect. Koovers strongly supports this ambition with its innovative digital offering,” said Mr. Harsha Kadam, Managing Director and Chief Executive Officer at Schaeffler India.

Under the share purchase agreement, Schaeffler India Limited will acquire 100 percent shares of KRSV Innovative Auto Solutions Private Limited for a consideration of approximately INR 1,424 million. The transaction would be completed in third quarter of CY 2023, subject to customary closing conditions. This acquisition will be fully funded by own cash generation.

“This acquisition is in line with Schaeffler India’s strategic initiatives for growth and provides a compelling synergy potential. With its digital offering, the Koovers B-to-B e-commerce platform enables workshops to easily order spare parts solutions. We welcome the Koovers team to the Schaeffler Group,“ commented Mr. Debasish Satpathy, President Automotive Aftermarket Schaeffler India.

Mr. Sandeep Begur Sheshadri, Chief Executive Officer and Co-founder at Koovers said: “Since our foundation eight years ago, we have scaled our business through innovative solutions and offerings. Koovers will expand its market coverage and depth, as well as extend product portfolio across the automotive aftermarket under the ownership of Schaeffler India. We are delighted to be an integral part of Schaeffler India and are committed to create value for all stakeholders.”

The Schaeffler Group has been driving forward groundbreaking inventions and developments in the field of motion technology for over 75 years. With innovative technologies, products, and services for electric mobility, CO₂-efficient drives, chassis solutions, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion more efficient, intelligent, and sustainable – over the entire life cycle. The motion technology company manufactures high-precision components and systems for drive train and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group generated sales of EUR 15.8 billion in 2022. With around 84,000 employees, the Schaeffler Group is one of the world’s largest family-owned companies. With more than 1,250 patent applications in 2022, Schaeffler is Germany’s fourth most innovative company according to the DPMA (German Patent and Trademark Office).

About Schaeffler India Limited

Established for more than 60 years, Schaeffler India is a leading motion technology company with 4 manufacturing sites in Pune, Vadodara, Maneja, and Savli, 3 R&D centres, and 8 sales offices. In 2022, the company reported sales of INR 68,674 million, supported by a team of 3,190 employees. The company is well represented in India with its three divisions – Industrial, Automotive and Automotive Aftermarket, offering comprehensive range of products and services under the brands of FAG, INA, LuK and TruPower. Schaeffler caters a to a large and diverse customer base with efficient engine & transmission solutions, chassis and E-mobility solutions on the automotive division and reliable range of bearings and accessories with award winning Industry 4.0 and Lifetime Solutions for the industry division. Both the divisions are backed by a strong network of aftermarket footprint bringing products and solutions closer to customers. The strategic roadmap is driven by a well-defined ESG (Environment, Social, Governance) program, and Schaeffler India is committed to contribute to the global sustainability targets. Committed to quality, innovation, sustainability with a passionate team Schaeffler India strives to pioneer motion to advance the industrial and automotive technology in India. Explore more - www.schaeffler.co.in

13SQFT.com Raises $1 Mn in Pre-series A Round Led by Inflection Point Ventures

• 13SQFT.com is India’s first and largest B2B Digital Platform built especially for warehousing, logistics and cold chain industries. It is a one stop shop for all space, infrastructure, automation, and technology needs.
• The funds will be utilized for Strengthening the Commercial and Technical Team, Platform Technology, Brand Building
• Inflection Point Ventures (IPV) has so far invested over INR 600 Cr across 190+ deals.

13SQFT.com, India's first B2B platform for warehousing, logistics and industrial sector has raised $1Million in a Pre-Series Round led by Inflection Point Ventures. The funds will be utilized to expand the commercial and technical teams, bolster the platform's technology, and elevate its brand presence, underscoring 13SQFT.com's commitment to shaping the future of these industries in India.

L-R_Alok bansal, CEO_Payal Chaudhary, Co-Founder and CHO 13SQFT.com 

13SQFT.com is India's first and largest B2B digital platform dedicated to warehousing, logistics, and cold chain sectors. Serving as a comprehensive solution hub, it caters to diverse needs including space, infrastructure, automation, and technology.

13Sqft is organizing an unorganized and fragmented base of building materials, equipment and fittings for warehousing, aggregating demand for specialized warehousing needs. It is also building tech-driven designs for optimal space planning and estimation of costs to set up warehouses.

With the platform launched in 2021 by Alok Bansal and Payal Chaudhary, Founders bring deep domain expertise in the warehousing and logistics industry. Mr. Bansal is an industry veteran with an MBA from SPJIMR and executive education from IIM Ahmedabad in Warehouse Design, and Mrs. Chaudhary, a skilled professional holding a Gold Medal in MSc (Biotech) and an M-Tech in Supply Chain. With Mr. Bansal's extensive leadership experience as the former CEO of notable companies like DTDC Supply Chain, Delhivery, Mercedes Benz, and Infosys, coupled with Mrs. Chaudhary's prior experience in running an infra company along with academic excellence and passion for driving change, 13Sqft has quickly risen as a major player in India's warehousing, logistics, and cold chain sectors.

Ankur Mittal, Co-Founder, Inflection Point Ventures, says, “13sqft is an innovative B2B platform which will streamline operations and provide end-to-end solutions for the logistics industry. This B2B digital platform ensures faster turnaround time and helps clients to validate expenditure and select the best solution for optimal results. We are excited to support 13Sqft's journey as they reshape the future of warehousing and logistics, offering a tech-driven solution that addresses the industry's challenges and transforms them into opportunities for success."

Mr. Alok Bansal, Founder, 13sqft, says, “We're thrilled with the amazing response from the market and clients. We've worked hard to understand and fix industry challenges. Now, we're the go-to for companies needing land, warehouses, and facility setups in logistics, retail, and more. Our platform is buzzing with companies listing their spaces and products, attracting buyers and investors. We're excited to partner with the government, supporting national growth by creating the right facilities. Our goal is to help small businesses, startups, and Make-in-India companies succeed on our platform.”

The startup's remarkable accomplishments have been recognized through numerous awards, including the prestigious ASSOCHAM Excellence Award for being the Best Emerging Player in logistics and warehousing in 2023. Notably, 13SQFT.com has not only achieved EBDITA positivity but also showcased its prowess through projects spanning the entire expanse of India.

13Sqft is the first Platform focused on warehouses, logistics, cold chain, and manufacturing giving them end-to-end solutions on space leasing, design and build Infrastructure + procurement services. The Company has achieved this on the back of a strong team focused on building one-stop platform designing and set up complete facilities with AI based digital modules of asset search, asset building, asset buying and asset management.

The demand for both general and specialized warehousing infrastructure in India is experiencing a robust growth trajectory, with a Compound Annual Growth Rate (CAGR) of 19%. Simultaneously, the B2B e-commerce sector is on the brink of significant expansion, with projections indicating a staggering increase from $20 billion in CY22 to $125 billion in CY27, translating to an impressive CAGR of 44%. These promising figures underscore the evolving landscape of warehousing and commerce in the country, reflecting a dynamic and rapidly evolving market.

About 13SQFT.com

13Sqft is building India’s first B2B Digital Platform for Warehouses, logistics, Dark Stores, Cold chain & industries focused on organizing an unorganized and fragmented base of building materials, equipment and fittings for warehousing, aggregating demand for specialized warehousing needs through its digitized platform. With end-to-end solution including searching for the right facility, developing right layouts, building external + internal Infra and procurement including Racking & storage, Mezzanine floors, MHEs, automation, EV vehicles and other all categories. We are helping companies to use tech in managing their Infra and with the help of AI in future we will help clients to take the right decision in finalization of facility and the infra.

About Inflection Point Ventures & Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform with over 8600 CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.

B2B Commerce Enabler Beyobo Raises ~Rs 5.5 Cr in Pre-Series A Round Led by Inflection Point Ventures

• Beyobo revolutionizes cross-border B2B procurement by providing comprehensive solutions, empowering businesses to thrive internationally
• 25% of the funds will be dedicated to technology enhancement, 35% towards supply enhancement, and remaining 45% will be utilized for demand generation.
• Inflection Point Ventures (IPV) has so far invested over INR 550 Cr across 170+ deals

B2B commerce enabler Beyobo has raised Rs 5.5 Crores in a Pre-Series A Round led by Inflection Point Ventures. SAN Angels, Indian Angel Network and Hyderabad 6Angels also participated in this round, along with several other individual angels. The funding round was initiated by CENSIE Capital Partners, who acted as the investment bank for the transaction.

Anil Agrawal, CEO, Beyobo

The company plans to use 25% of the funds towards technology enhancement, 35% to supply enhancement, and the remaining 45% will be utilized for demand generation.

Beyobo addresses the challenges of product discovery and sourcing in the offline retail market by providing efficient solutions for discovering imported products. The B2B cross-border market is valued at a massive $730 billion. With a focus on beauty & personal care, consumer electronics, and fashion accessories, BEYOBO has gained significant traction, serving over 35,000+ retailers, and generating ~INR 95 crore in revenue in FY23. The company plans to expand into additional categories and incorporate predictive analysis and personalized cataloguing features to enhance the customer experience.

Beyobo's founders include Anil Agrawal (Co-founder & CEO), a second-generation entrepreneur with over 18 years of cross-border business experience. Anil specializes in offline B2B markets, successfully launching the private label brand Whitecherry and achieving remarkable e-commerce success as the largest seller at Paytm Mall for cross-border products. Shikha Agarwal (Co-founder) brings extensive experience in traveling to interior regions of major Asian countries and working with international trade organizations. Kunal Jain (Co-founder) has over 18 years of experience in sales and distribution, having held managerial positions in organizations like Just Buy Live, Videocon, and ICON group.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says “The market for international Brands has seen a sharp rise due to deeper penetration of social media which has removed proverbial boundaries between large metros and tier 2 and 3 cities. The consumers are on a look out for premium and genuine international brands and Beyobo is helping such brands making inroads and opening new markets for them. We believe B2B online commerce is just beginning to unfold in India and it will see many new and disruptive models with Beyobo taking the lead.”

BEYOBO operates at a significant scale with an impressive traction of Rs 11 Cr MRR and maintains a positive contribution margin. Additionally, they are catering to large enterprises and e-commerce players to help in sourcing international products for them.

BEYOBO, fuelled by 20 years of domain experience, driven by seasoned entrepreneurs. With a successful PMF achieved, the company has established deep integration with suppliers. In a fragmented import market worth $720 billion with a CAGR of 12%, BEYOBO's business model is replicable in over 100 countries. Their product features patent-applied technology for small import automation, a supplier panel for convenient catalogue uploads, and a retailer mobile app. Operating on a 10% margin, which can be increased twofold, BEYOBO follows a zero-inventory model and generates revenue through subscriptions and services.

Anil Agarwal, Co-founder & CEO, Beyobo says, “As CEO of BEYOBO, I've seen B2C businesses dominate the last decade, but now we focus on digitalizing B2B operations. Cross-border transactions pose challenges, so we've developed three engines for non-linear growth. Our deep understanding of major Asian countries empowers us, and we're ready to embrace the promising road ahead. The IPV team and their investors prove to be not just valuable in terms of providing funds, but also offer indispensable support in terms of ideating & brainstorming, providing real time feedback and sharing business connects. Moreover, Anil confidently asserts that BEYOBO has already laid out a blueprint for building a multibillion-dollar company.”

BEYOBO exhibits an impressive array of achievements, from securing two patents for cutting-edge smart technology solutions to assembling a formidable team with vast cross-border trade experience. Their compelling USPs, including no minimum order limit and customer-friendly return policies, have garnered significant attention. With a remarkable annual run-rate revenue of over $13 million and positive CM-2 margins, BEYOBO is firmly on the path to success. Moreover, the company is poised to seize a vast market opportunity, collaborating with millions of offline and digital sellers and numerous large enterprises for transactions worth over $150 billion.

About Beyobo-

Beyobo, founded by Anil Agrawal, Kunal Jain, and Shikha Agarwal, is a cutting-edge company in the cross-border B2B procurement industry. With its deep integration into major Asian markets, enhanced patent-applied products, and a highly experienced team, Beyobo is reshaping international trade. The company's USP lies in its comprehensive solutions that address critical pain points, empowering businesses to thrive in the cross-border B2B arena and tap into the vibrant Indian consumer market.

About Inflection Point Ventures & Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform with over 8600 CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.

B2B Proptech Platform Altre Raises $1 Mn from Institutional Investors

Gurugram based Proptech startup Altre has raised $1 million in a pre series A round of funding from institutional investors, reported Economic Times.

Altre is essentially a B2B Commercial Real Estate tech platform aims to solve real world problems by automating and resolving commercial real estate needs with seamless efficiency, making the process faster, smarter, and more accessible, by powering the process with data-driven insights and Artificial Intelligence.

Founded this year, by Shweta Sawhney (Ex JLL, Cushman and Savills), Altre is India’s first digital brokerage platform servicing a Pan India footprint for enterprise clients.

Shweta Sawhney is an industry expert with over 20 years of real estate experience. She has facilitated transactions of over 35 mn sq. ft., and with Altre she is on a mission to make real estate more efficient and accessible through technology.

Currently Altre has over 2,000 properties listed across 300 million square feet of listings from Bangalore, Delhi, Noida, Pune and Gurugram.

As per the startup's LinkedIn profile, Altre aims to digitize the real estate transaction space across various use cases like leasing, buying/selling utilising data and AI to cater to the real estate needs of corporate occupiers. Altre offers a one-stop solution where businesses can easily search, discover, compare, shortlist, negotiate, and finalize their office, flexible, coworking, meeting rooms, or conference room spaces.

Earlier this month, an another Gurugram headquartered Proptech startup OfficeBanao raised funds from angel investors including former Meta India MD Ajit Mohan and former Colliers India CEO Ramesh Nair.

In start of this year, Landeed, touted as India's largest seed-funded proptech startup, had raised $ 8.3 million from prominent investors like Draper Associates, Y Combinator, and Bayhouse Capital.

Hosts of 100x Entrepreneur Podcast (now The Neon Show) Launches New $25 Million Fund for B2B SaaS Startups

NEON Launches $25 Million Fund for B2B SaaS Startups

Hosts of 100x Entrepreneur podcast (now called The Neon Show) launch new fund that enables B2B SaaS startups to reach $10M in annual revenue in under 5 years

The hosts of the acclaimed 100x Entrepreneur podcast (now called The Neon Show), Siddhartha Ahluwalia (2x Founder & Ex-Amazon) and Nansi Mishra, are unveiling the brightest prospect in the venture capital space — NEON.

NEON specializes in taking early stage B2B SaaS companies to more than $10 million in annual revenue within five years. In addition to providing capital, NEON will lend its unparalleled go-to-market expertise to its portfolio companies to make sure that they get the spotlight and stay there.

The fund builds on the success of Siddhartha and Nansi’s previous $10 million fund, 100x Entrepreneur, which has invested in over 40 successful “made in India” B2B SaaS startups including Airmeet, Astra Security, CloudSek, InFeedo, KNOW app, Profit.co, Phyllo and SpotDraft. The fund’s portfolio companies have seen up to 7x increase in revenue and 400% increase in valuation within two years of investment.

Speaking on why NEON, Founding Partner Siddhartha Ahluwalia said, "NEON is not merely an investment vehicle, but a lighthouse and a growth catalyst for early stage B2B SaaS startups. India has some incredible SaaS founders who shine bright even on the global stage. We look forward to being a part of their journeys and working with them on product development, marketing, sales, and talent acquisition. This arms them with the strategic and operational support necessary to scale rapidly and efficiently. We want them to be the brightest version of themselves.. to be Neon"

Founders from NEON's portfolio companies speak highly of their experience with the fund.

"Sid and the Neon Fund team have been more than investors - they've been guides, partners, and unwavering supporters. Sid stands out as the most helpful seed stage investor for B2B SaaS in India," said Vijay Rayapati, Co-founder and CEO of Atomicwork.

"Neon's strategic insights and support have been crucial for SpotDraft's growth, helping us navigate from the early stages to our rapid scaling phase," added Shashank Bijapur, Co-founder and CEO of SpotDraft.

"Neon is a fund of the founders, run by the founders, and for the founders. Great people to work with and most importantly, people with startups in their DNA," said Sreedhar Peddineni, Co-founder and CEO of GTM Buddy.

Limited Partners in the fund include prominent names like Blume Founders Fund, Sandeep Singhal of Nexus Venture Partners, and renowned SaaS founders like Pallav Nadhani (Fusion Charts), Varun Shoor (Kayako), Paras Chopra (Wingify), Kiran Darisi (ex-Freshworks), and Kshitij Jain (Joveo, Mobolt).

About NEON Fund

NEON is a founder-first fund launched by hosts of 100x Entrepreneur podcast (now called The Neon Show) Siddhartha Ahluwalia and Nansi Mishra. They focus on revolutionizing B2B SaaS investments, so that these startups shine locally and globally. The fund is designed to help B2B SaaS startups reach $10 million in annual revenue in under five years. NEON actively collaborates with its portfolio companies on product development, marketing, sales, and talent acquisition to expedite their growth journey globally.

To learn more, visit www.neon.fund

B2B Cloud Manufacturing Startup Frigate raises $1.5M USD in Seed Round

Manufacturing startup Frigate announced that it has successfully raised their Seed round of $1.5M Led by Arali Ventures with participation from Capital-A, Java Capital, and other strategic angel investors.

With the new round of funds, Frigate® will expand its digital manufacturing ecosystem to cater to its global customer base.

Founded in 2021 by Dr. Tamizhinian Vasanthan, Karthikeyan Prakash, Chandrasekar C, and Iniyavan Vasanthan, Frigate® is a B2B cloud manufacturing platform that offers a comprehensive suite of manufacturing services to medium and large-scale companies globally. Frigate specializes in executing projects within the New Energy & Power, Infrastructure, EV sectors, and Automotive industries with a focus on Heavy Fabrication, Sheet metal, Castings, Forgings, and Injection molding.

Dr.Tamizhinian Vasanthan, Founder & CEO stated that on the demand side, Frigate® provides Manufacturing-as-a-Service to global customers, offering globally competitive pricing, better lead time, and Best in class manufacturing with quality. Our customers consider us as an extended supply chain partner from New Product Development to Mass production. Frigate is helping overseas customers who are looking at China +1 policy to set up a manufacturing base in India.

Karthikeyan Prakash, Co-Founder & CPO stated that through our proprietary AI enabled tech platform, we enable demand-supply matching, standardization showcasing our partners' capacity, capability, and availability and complete transparency from sales to order fulfilment. This approach has the potential to drive job creation and economic growth while making India a manufacturing superpower.

On the supply side, Frigate® has partnered with more than 200 manufacturing partners, known as Frigaters located in Tier 2 cities such as Coimbatore, Trichy, Hosur, Jamnagar, Ludhiana, Kolhapur and Kolar. By leveraging technology in utilizing their spare capacity, Frigate helps these partners by increasing their revenue from customers globally.

Arun Raghavan, Managing partner at Arali Ventures said, “The manufacturing sector from India has significant tailwinds driving it forward. The B2B manufacturing business is poised like IT services was in the late 90s. OEMs, especially in new age industries, across the globe are looking for long term partners who will help them build out their vendor development, contract manufacturing partners and supply chain capabilities; the Frigate team with its all round manufacturing, new product development and operations management capabilities is best suited to execute on this going forward.”

Vinod shankar, Partner and co-founder at Java Capital says “We believe the AWS moment for manufacturing companies has come. Similar to how the IT infrastructure moved to the cloud, we expect manufacturing to follow. Also coupled with the rapid digitisation of the B2B supply chain in India and with the China + 1 strategy will only add to the adoption curve. Frigate founders have built a strong team that is ready to go, which gives us a deep conviction in the both founders and the market. We are playing on a large market + young founders’ thesis from our fund playbook”

"We firmly believe that Frigate is poised to become the future of manufacturing in the world," said Ankit Kedia, Founder at Capital-A. "This investment signifies our confidence in the transformative capabilities of cloud-based manufacturing and its potential to reshape the industry landscape globally. Frigate's innovative approach will enable manufacturers to thrive in an increasingly dynamic and interconnected world, unlocking untapped potential and opening doors to unparalleled growth opportunities."

Frigate® is strengthening its team across India and globally to support business development and Supply Chain Management, Technology and Finance. This is Frigate's second round of funding. Earlier the company had raised its pre-seed round of $185,000 through strategic angel investors and founders in April 2022.

About Arali:

Arali is a seed stage B2B focussed venture capital fund. Arali is currently investing out of its $40M second fund; they did a first close in Oct 2022. Arali has been the seed investor in companies Wizfreight, Finbox, Unbox Robotics, Cynlr, HBOX.ai, Oivi, Bimakavach, Prolance and a set of saas companies like Wingman, Insent.ai, CogniSaaS. Pathfndr

About Java Capital:

Java capital is stage(pre-seed/seed) and sector focussed fund run by career Venture Capitaliss and startup ecosystem enablers with over 20+ years of experience between them across pre-seed, seed stage. Primary focus areas include sectors such as Deeptech, B2B - SAAS, marketplace and climate/sustainability. Java has invested 28+ companies such as Agnikul, Eplane, Cynlr, YellowMetal, Zapscale, Auditcue, Preimage, Codingal etc.,

About Capital A:

Capital-A is a venture capital fund that focuses on investing in seed to early stage startups. Currently investing from it’s $25M fund, Capital-A has built a portfolio of over 25 startups. Some investments in their portfolio include Jiraaf, ChargeUp, Oorja.energy, Rooter, Creditfair, and InfinityBox, among others.

About Frigate:

Frigate is on a mission to "Make Manufacturing Easy" for Global Industrial OEM, ODM, and product companies by helping them convert their digital designs to physical products from sampling to full-scale manufacturing.

With their revolutionary AI-enabled cloud manufacturing platform, Frigate provides Good price, Better Lead time, and Best in Class Manufacturing.

Delhi-based Thriwe Secures Investment from Suadi Arabia’s Al Multaq Group, Expands To Saudi Arabia

Dhruv Verma and Swati Sharma — Founders of Thriwe

Thriwe, India’s first and largest B2B "Benefits as a Platform" company, has announced its expansion into Saudi Arabia through a strategic partnership with Al Mutlaq, a prominent multi-billion-dollar conglomerate focusing on venture capital and the private equity sector.

As part of the partnership, Al Multaq has invested an undisclosed amount in Thriwe to support the latter’s regional launch and operations. The company aims to generate around $100 million of revenue from the Saudi market over the next 36 months.

The funds raised from Al Mutlaq's will be invested to enhance a loyalty and rewards ecosystem and the customer experience in Saudi Arabia, strategize the regional operations and strengthen Thriwe's technology solutions in line with domestic requirements.

Thriwe established in 2011 by Dhruv Verma, an XLRI alumni, is headquartered in India along with regional offices across the nation, UAE, Singapore, London, and Florida. Earlier, the company raised funds from the angel fund YourNest fund and Africa’s Ison Networks.

Thriwe's entry into Saudi Arabia marks a significant milestone for the company as it continues to expand its footprint in the Middle East. The collaboration with Al Mutlaq Group, which has a strong presence in the region, is expected to provide Thriwe with a wealth of local knowledge and expertise and access to a vast network of potential clients and partners.

Talking about the JV with Al Multaq, Dhruv Verma, Founder & CEO of Thriwe, said, "We have been doing reasonably well in Dubai and have been associated with various financial institutions like FAB, Mashreq, RakBank, ENBD, etc, running as managing loyalty programs for them as well. Our goal is to empower businesses in Saudi Arabia with a user-friendly and customizable platform that will enable them to build stronger relationships with their customers by driving loyalty and retention. We are excited to partner with Al Mutlaq Group, a leading conglomerate in the region, and we look forward to a long and successful partnership."

Thriwe's "Benefits as a Platform" solution is constructed to help businesses of all sizes by developing customized, white-labeled employee benefit programs that can be managed through a single, easy-to-use interface. The target sectors include travel, entertainment, and lifestyle.

CEO of Al Mutlaq Group said, "We are pleased to partner with Thriwe as they expand their operations into Saudi Arabia. At Al Mutlaq Group, we believe in investing in innovative and disruptive companies that have the potential to transform industries. We see Thriwe as a valuable partner in the loyalty and rewards space, and we are excited to support their growth in the region. In addition, Their platform offers a unique solution that can benefit businesses of all sizes (from SME to Large Scale Industry), and we look forward to working with Thriwe to bring this solution to our clients and partners in Saudi Arabia."

About Al Multaq

Al Mutlaq Group (AMG) has participated in the Saudi Arabian economy for over seven decades. Since its inception in the 1950s, the group has maintained a steady and consistent growth trajectory by establishing and nurturing several successful businesses and strategic relationships. Today, AMG has evolved into a well-diversified and institutional investment group with a presence in several industries, including real estate, hospitality, manufacturing, and financial services.

About Thriwe:

Thriwe is a benefit as platform company founded in 2011 by Dhruv Verma and Swati Sharma. The company operates in the loyalty and rewards domain and helps businesses acquire, engage, and retain customers. Thriwe's unique value proposition lies in its end-to-end benefits offering, which includes a technology platform, benefit curation and onboarding, customer experience, and service. Through its platform, Thriwe enables businesses to effectively manage their loyalty programs and rewards systems, providing customers with a seamless and earn & burn rewarding experience to retain their customers. With a focus on innovation and customer-centricity, Thriwe has established itself as a leading player in the loyalty and benefits space, helping businesses across industries drive growth and build brand loyalty.

Soptle Raises $1 Mn in Pre-Seed Funding Led By Kube VC and We Founder Circle

Soptle raises $1 million in pre-seed funding

Funding round led by Kube VC, We Founder Circle, Iceland Venture Studio (IVS)

Soptle, India's first SaaS-led B2B marketplace for FMCG manufacturers and retailers, today announced it has closed a $1 million pre-seed investment in its latest funding round. The round is led by Kube VC along with We Founder Circle. This round also saw participation from Iceland Venture Studio (IVS), Nyra Ventures and founders of Dunzo, Jar, Bijak, and Managing partner of Rocketship.vc. Existing investors – Kube VC and Dunzo founder Ankur Agarwal – are also participating in the funding round.

The pre-seed funding will power Soptle’s expansion of the retailer-network reach and manufacturing-partner footprint across India, with new product offerings and technology enhancement.

Pravas Chandragiri, Founder - Soptle

Soptle was founded in 2021 by Pravas Chandragiri, then a 19-year-old high school graduate, who decided to become an entrepreneur instead of joining college. Based on his own experience of working in a kirana store in Balasore, Odisha, Pravas started Soptle with the goal of empower the 8+ million regional FMCG manufacturers and retailers across India. The startup helps FMCG manufacturers better serve the existing supply chains by providing access to procurement, production, demand generation, distribution, cash collection, and reconciliation. By digitizing and incentivizing the FMCG manufacturer, Soptle has become a one-stop marketplace for the FMCG community.

According to Pravas Chandragiri, the 20-year-old CEO & Founder of Soptle, “When I started Soptle, my aim was to help the humble kirana store owner in small towns and cities. I never had any doubt about both the idea behind Soptle and India’s untapped potential. Our team has worked hard to make this idea grow, and the pre-seed round is a validation of our efforts. The pre-seed round is another step towards many new milestones. I am thankful to both the Soptle team and the investors for their partnership and passion.”

“Pravas, at such a young age, has created a business model that encapsulates our view on how technology can connect various manufacturers to improve the distribution while also building scalable, defensible and profitable business models. We are encouraged by the traction achieved for their manufacturers-led market linkage,” said Neeraj Tyagi, Founder, We Founder Circle.

According to Kube VC: “With this innovative, tech-led, manufacturer-centric and distribution-first model, Soptle has set out on a journey to create a next generation B2B commerce platform that increases value realization and income for manufactures. Soptle enables manufacturers better access to market and distribution of their product using Soptle’s tech infrastructure.”

Soptle closed two angel rounds in 2022. With the latest pre-seed round, the startup has cumulatively raised $1.4 million from Kube VC, We Founder Circle, Iceland Venture Studio, Nyra Ventures, and founders and CXOs of Dunzo, Jar, Bijak, Gati, Google, and All-Cargo Group.

About Soptle

Soptle is the brainchild of then-19-year-old, Pravas Chandragiri, who comes from the small town of Balasore in Odisha. After graduating from high school, Pravas decided to pursue entrepreneurship rather than take admission in a college.

Founded in 2021, the Gurugram-based Startup is India's first SaaS-led B2B FMCG commerce platform that enables FMCG manufacturers to digitize their workflow, day-to-day activities, conduct their existing business in a more efficient manner, and also increase sales to retailers in other geographies by enhancing their utilization capacity. Soptle's investors include founders and CXOs from Dunzo, Jar, Gati, Google, All-Cargo Group, and Kube VC, We Founder Circle, Iceland Venture Studio, and Nyra Ventures.

 

Aksum, a B2B SCaaS Platform Raises $1 Mn in its Pre-Series A Round led by Inflection Point Ventures

Aksum is a platform that operates on a B2B Supply Chain as a Service (SCaaS) model, designed to enhance the efficiency of supply chain processes for SMEs and large corporates.

The funds raised will be used to expand the operations geographically and to strengthen the technology framework.

Inflection Point Ventures (IPV) has so far invested over INR 550 Cr across 170+ deals

Aksum, a B2B SCaaS Platform, has raised USD 1 Million in a mix of equity & debt in its Pre-Series A round led by Inflection Point Ventures. The funds will be used to enhance and reinforce the technology framework of the company and also expand its reach to new geographic locations

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “To streamline the supply chain operation, usually SME’s and corporates require adequate amounts of capital & human resources which can be time consuming and costly. Aksum with its digitised platform will not only enhance the entire supply chain process but also provide a complete transparency in the end to end supply chain. Thus enabling manufacturing and infrastructure sectors to focus on their business and grow with ease. IPV is confident that with their expertise coupled with Aksum’s unique business model will further help them to grow strategically in the coming months."

He further added “The company is on track to achieve a Gross Merchandise Value (GMV) of over INR 250 Crore in the financial year 2023-24.”

Sumit Bhatia, Co-Founder, Aksum, says, “We would like to thank IPV for believing in our vision to build India’s 1st ScaaS B2B platform. The fund raised will help us in expanding our product category portfolio & bring transparency & efficiencies in the supply chain function.”

Ankit Jain, Co-Founder, Aksum, says, “This fund raise will help us grow the business 2X and provide access to cost efficient Working Capital solutions through Indian & Foreign Financial Institutions. Our aim is to remain profitable and grow steadily.”

Both the Co-Founders, Sumit Bhatia & Ankit Jain, complement each other in their roles. Ankit, an IIT Kharagpur graduate, brings in 17 years of Financial and Corporate experience and Sumit a Post Graduate in Management brings 23 years of experience across entrepreneurship as well as B2B distribution operations.

About Aksum

Aksum Trademart is India’s 1st ScaaS business-to-business (B2B) platform that provides Supply Chain as a Service (SCaaS) solutions to small and medium-sized enterprises (SMEs) and large corporates. The platform offers a range of services that help businesses streamline their supply chain operations. These services include procurement automation, which enables companies to automate their purchasing process, thereby saving time and reducing errors. Additionally, the platform provides supply chain optimization services, which help businesses to optimize their inventory levels, reduce lead times, and improve overall efficiency. Finally, Aksum also offers logistics management services, which enable businesses to manage their transportation and logistics operations more effectively, reducing costs and improving delivery times. By leveraging these services, businesses can improve their supply chain performance, reduce costs, and increase profitability.

About Inflection Point Ventures & Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform with over 7400 CXOs, HNIs, and Professionals to together invest in start-up’s. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups. 

JSW One Platforms raises INR 205 Crores in Series A funding round from Japanese investor Mitsui & Co., Ltd

JSW One Platforms, the B2B e-commerce venture of US$ 22 billion JSW Group, has raised INR 205 Crores from Japan’s Mitsui & Co., Ltd in a series A funding round. The Series A funding round values JSW One Platforms at over INR 2,750 Crores.

The digital adoption and desire to increase resilience in supply chains have prompted Indian MSMEs and enterprises to go online. In January 2021, JSW Group rolled out their e-commerce business, JSW One Platforms, to be an industry-leading platform within India’s manufacturing and construction industries. JSW One Platform leverages JSW Group’s strength in manufacturing and building materials, tech-enabled logistics and credit to be a platform of choice for MSMEs and Enterprises in India. The company launched its e-commerce platform jswonemsme.com in July 2021 and has since become a trusted platform across the country. The company also operates a turn-key home construction business called JSW One Homes.

Mitsui believes that their investment in JSW One Platforms will lead to a restructuring of supply chain in India. JSW One’s digital platform will accelerate the digital discovery of supply across manufacturing and construction industries.

According to Mr Parth Jindal, Director of JSW One Platforms, “I am pleased to welcome Mitsui as an investor in JSW One Platforms. Their decision to invest in our e-commerce business validates our long-term strategic vision to capitalize on technology to take a strong leadership position in the B2B e-commerce sector. India has over 500,000 building and manufacturing MSME’s and as this number grows JSW One aims to cater to all their building materials requirements through our advanced and technology enabled products and services."

Mr Gaurav Sachdeva, CEO of JSW One Platforms, said, “We are delighted to have Mitsui as our first institutional investor. We are excited about their experience of working in the B2B industry across various markets in the world. Their investment will help us penetrate deeper into the industrial and construction industries. We also look forward to bringing other industry segments onto the platform and will continue to leverage technology to be an industry-leading platform for MSMEs."

Mr. Masaharu Okubo, Managing Officer, Country Chairperson in India of Mitsui & Co., Ltd. commented, “Our investment and partnership with JSW One Platforms not only signals our belief in the firm’s robust business model, but also our conviction in the long-term growth prospects of the B2B e-commerce space, which was catalysed by the COVID-19 pandemic. We look forward to working together to realize JSW One Platform’s strategic vision of becoming a key industry player in the region with our contribution for expanding supply source and wider product portfolio for targeting industry.”

JSW One Platforms will utilize the funds to strengthen its market presence and further enhance tech capabilities. The company plans to expand operations in newer geographies like NCR, Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh to cater to the majority of the states in India and will also invest in credit, logistics, and technology stack to improve customer experience.

About JSW One Platforms: JSW One Platforms is the e-commerce venture of the US $22 billion JSW Group. It operates a B2B tech-enabled marketplace JSW One MSME, to service the building material needs of Industrial & Construction MSMEs in India. The company also operates a turn-key home construction business called JSW One Homes. JSW One Platforms is leveraging the combined strength of supply & distribution across JSW Group’s Steel, Cement & Paints businesses to build a fully integrated ecosystem for MSMEs and individual home builders.

Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania. Mitsui has about 5,500(Consolidated 44,000) employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries. Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer. Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio. Mitsui opened its first branch office in India in 1955. For more information on Mitsui & Co’s businesses visit, www.mitsui.com

Fashinza, an AI-driven B2B Marketplace for Fashion Supply Chains, Raises $30 Mn Funding from Mars Growth Capital and Liquidity Group

Fashinza, an AI-driven B2B marketplace for global fashion supply chains, today announced that it has secured $30 million working capital funding from Mars Growth Capital and Liquidity Group. Liquidity Group is a pioneering technology firm that has become the industry’s fastest-growing lender to mid-market, late-stage companies globally by automating the entire debt lending cycle. The funding will fuel Fashinza’s ongoing transition into a global business with significant operations in the USA, Gulf, and Europe.

Fashion is constantly evolving, but never more than now in the age of Tiktok and Instagram, influencing fashion choices on a global scale instantly. To stay ahead of the curve, fashion brands must be very agile and have highly efficient supply chain management. This is impossible if they rely solely on large-scale manufacturers as in the past. Fashinza provides an innovative solution for this problem by connecting SMEs directly to top fashion brands across the world. By creating an online platform that allows both buyers and sellers to connect seamlessly, Fashinza is revolutionizing the way fashion works in today's high-speed digital age.

"Fashinza is transforming the global fashion supply chain. Their performance since inception, the strength of their founding team, and their existing global network of manufacturers and customers gave us enough confidence in their ability to scale this business and sustain in the medium- to long-term," remarked Navas Ebin, Managing Director of APAC for Mars Growth Capital and Liquidity Group.

"As we focus on expanding our presence in international markets, including the USA, we are excited to partner with Liquidity Group to support our growth and to bring our innovative manufacturing solutions to a global audience," said Abhishek Sharma, Co-Founder and COO of Fashinza. “With their flexible cross-border financing solutions and extensive knowledge of navigating international markets, we are confident that we can successfully penetrate new markets and provide our manufacturing solutions to key clients worldwide. At the same time, we remain committed to delivering exceptional service to our key customers in the USA and beyond, as we continue to revolutionize the fashion manufacturing industry,” Abhishek Sharma added.

Fashinza will use the capital to meet its growing international working capital requirements. "Our capital is non-asset based and will hence support Fashinza to grow their business internationally in the most capital-efficient manner," said Navas Ebin.

“Fashinza is a promising pre-unicorn with global aspirations. Mars Growth Capital and Liquidity Group have been supporting companies like Fashinza to transition into becoming truly global businesses, and the prospects for a long-term partnership with the company are exciting," added Nir Shmueli, Investment Manager at Mars Growth Capital and Liquidity Group.

About Liquidity Group

Founded in 2018, Liquidity Group is a pioneering technology firm that has become the industry’s fastest-growing lender to mid-market, late-stage companies by automating the entire debt lending cycle. The firm’s patented machine learning and decision science technology enabled the firm to deploy more capital through more deals faster than any firm in capital markets history. Backed by top financial institutions, including Apollo and MUFG, Liquidity Group provides growth capital through funds focused on the US, Asia-Pacific, Europe, and the Middle East. Liquidity Group’s subsidiary fund, Singapore-based Mars Growth Capital, and its partner MUFG jointly handle the company’s South East Asia activity.

About Fashinza

Fashinza is an AI-driven B2B marketplace for global fashion supply chains. They make it exceptionally easy for international brands to access design to delivery in as fast as four weeks with very low minimums. Fashinza offers access to a transparent production process that can be monitored 24/7 with 100% control enabled by their revolutionary FactoryOS. Their goal is to create a sustainable (i.e. net positive) supply chain by 2030 and empower SMB manufacturers with Industry 4.0 solutions. Fashinza has a roster of over 250 factories that currently serves 200+ brands across five countries, including the United States, Canada, UAE, UK & India. The company was co-founded in 2020 by serial entrepreneurs Pawan Gupta, Abhishek Sharma and Jamil Ahmad.

Lal10 Sets Up 7 Satellite Offices to Digitise Textile factories (MSMEs) PAN India

In the first phase, centres have opened in Jaipur, Hyderabad and Varanasi

With a vision to digitise the MSMEs in India for global trade, Lal10, a cross-border B2B tech-enabled full-stack platform, has announced that it will launch seven satellite offices across seven states by the end of June 2023. With 2292 MSMEs in its fold, Lal10 has become the largest pan-India aggregator of textile factories.

The MSME sector of India is one of the biggest contributors to the nation's GDP and the export markets, with a 30 percent and 50 per cent share respectively. Digitising these factories, Lal10 claims to be the largest cloud-export house from India to the world. This expansion is in line with the start-up's strategy to leverage technology and transparent supply chains to unleash the latent potential of these MSMEs for global trade.

It is opening offices in Varanasi, Hyderabad, Kolkata, Ahmedabad, Indore, Jaipur, and Noida, all of which are close to the country's major centres for textile production. These centres are at the mouth of manufacturing, where the company will digitise these textile factories. The supporting regional offices will be empowered with a Production Manager who will head operations, a Quality Control Manager who will be responsible for uniform product quality as per global standards and the Catalogue Manager who will look after up-skilling the manufacturers and teaching them how to 'come online' and reap the benefits of economies of scale in raw material and finance sourcing, efficient inventory management while being updated on global design trends.

This expansion is in keeping with the scale planned by Lal10 to service its midsize to large-scale global buyers in the US, UK, Japan and the Middle East. With its current base of MSMEs already on-boarded with an unutilised capacity of $600M, Lal10 is already among the top export houses in the country. It aims to add another 12,500 Indian MSME partners with an output of $1 billion in the next 3-4 years. 

Commenting on this expansion, Maneet Gohil, CEO and Co-Founder, Lal10 said, "With such huge global demand for textiles, Indian MSMEs have enormous potential to grab a larger share of the export market. There is an immediate need to enable more textile hubs from India to plug this demand and provide a large assortment of products. The traditional Indian textile hubs are only contributing to domestic markets. We are leveraging technology to map these factories on production, streamline processes for quality and design and make the systemic changes which were due for Indian manufacturing to go global. Tech built to support our regional operational expertise at the satellite offices is helping us build for scale. We will be the largest export house from India in a span of the next 18 months.”

Currently, there is a huge discrepancy between the few big exporter belts of the country and the rest of the MSMEs which have tremendous production capacity but lose out due to systemic inefficiencies which are easily addressed through transparent technology solutions. Lal10 consolidates the raw material demand of our MSMEs helping them to get the best quality inputs at the lowest costs, eliminating the long line of middlemen. It also connects them to banks and NBFCs providing them affordable credit which is at least 10-15 per cent cheaper than what they currently get from the exploitative informal financing sector. To keep pace with global trends we also upskill our MSMEs with 300-400 designs per month.

Lal10's revenues increased by 1200% in the previous year with the current MoM growth clocking at 70-80 per cent. The company strives to provide the broadest selection of goods to its customers from all parts of the nation through an exhaustively mapped out, transparent supply chain and now services 200+ mid-size to large buyers and 12+ marquee brands in the United States, United Kingdom, Japan and the Middle East. Satellite offices in Jaipur, Hyderabad, Noida and Varanasi are already live with 3 more centres set to go live shortly.

CapGrid, Automotive Sourcing Startup, Raises $ 7 Mn in Series A Round Led by Nexus Venture

CapGrid, a B2B cloud manufacturing start-up for precision parts & components, announced today that it has raised $ 7 million in its latest funding round, led by Nexus Venture Partners.

The round also saw participation from existing investors Axilor and Anicut Capital. Deepak Jain, a senior Partner at Bain and head of the automotive practice in India, also participated as angel investor in the round.

CapGrid is building a digital supply network with an advance technology infrastructure, partnering with hundreds of Tier 2 manufacturers to get precision parts & components sourced, manufactured and delivered to customer’s assembly line. CapGrid’s deep capabilities in illuminating and tapping into the available capacity of QC-certified Tier 2 suppliers enables it to become a cloud manufacturer and aggregate supplier to Automotive and EV OEMs and Tier 1s. To be able to cater to manufacturers across the country, CapGrid partners with warehousing and logistics players in an asset light model to be able to deliver to the customer’s assembly line.

CapGrid’s customer list has leading players from across 2W, 3W, 4W, Tractor, Construction equipment manufacturers and large automotive Tier 1s. For these customers, CapGrid through various offerings e.g. regular procurement consolidation, NPD (New Product Development), SPD (Spare Parts) sourcing and Electric Vehicle component sourcing, becomes an aggregate supplier. CapGrid has been able to reduce the supply chain complexity by ~90%, reduce procurement cost to zero and material cost by 3-5% for its customers.

CapGrid is currently getting 5,000+ different precision components manufactured through its supplier network of 300+ partners and fulfilling it to customer’s assembly line seamlessly owning delivery and quality in the process. Globally this segment is worth $1,000 Bn+ in the automotive space itself. CapGrid is committed to utilizing this fresh funding infusion to deepen its technology infrastructure, talent acquisition and scale up cloud manufacturing with its supply partners.

Speaking on the funding round, Cofounder & CEO, Dheeraj says “We have digitalized the entire Source-to-Deliver process. CapGrid is working closely with multiple automotive and industrial manufacturers as a strategic partner for the supply of precision parts & components. Our technology stack and supplier aggregation capability helps customers reduce operational complexity and focus on innovation. With our decentralized global supply network, we can cater to direct material needs to OEMs and Tier 1s across the globe.”

Himanshu, Cofounder and COO, who closely works with the supplier ecosystem says, “CapGrid has illuminated manufacturing capabilities of 30,000+ suppliers across 15 countries and identified thousands of suppliers operating at 50-60% capacity. We allow them to focus, utilize and innovate on their core manufacturing capabilities by bringing aggregated manufacturing demand.”

Sameer Brij Verma, Managing Director at Nexus Venture Partners, expressed that “We at Nexus are very excited about partnering with CapGrid as they revolutionise precision components sourcing and procurement for the automotive manufacturing sector via their robust network of cloud manufacturers. They are already working with leading OEMs on strategic initiatives like indigenisation, light-weighting, EV transition, procurement consolidation and value engineering. We see India being a global leader in manufacturing in the years ahead and feel CapGrid will increasingly be a partner of choice for OEMs looking to build high quality and agile supply chain while improving margins and OTIF significantly.”

Vyom Agarwal, Sr. Vice President at ACE (Action Construction Equipment ltd.), says that “There is a need to reduce the operational complexity of automotive and industrial manufacturing. We have engaged CapGrid as a single window in place of a cluster of suppliers mainly in hardware category to reduce our inventory, consolidate our buying and bring down supply chain complexity. ”

Intequant advisors acted as exclusive Financial advisors while JSA Law and Sarvaank Associates was legal and secretarial advisor.

About CapGrid-

CapGrid is an end-to-end source-to-deliver company for the low complexity direct material spend focused on the automotive and industrial manufacturers. The company leverages an AI-enabled sourcing platform with more than 30,000 manufacturers and their deep capability intelligence to run sourcing 10X faster. They have been able to reduce the sourcing and procurement complexity significantly, reduce inventory by half and reduce material cost by 5% for leading manufacturers. The innovative idea of starting such a venture was incorporated in December 2019 and it became functional in January 2021.

Headquartered in Gurgaon, company also has office in Bangalore and warehouses in Hosur, Rajkot, Jaipur and Faridabad. CapGrid was founded by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi. The two founders have extensively worked with manufacturers in India, the US, and Japan for more than ten years. They are both former management consultants. The founders saw a gap in the market globally where manufacturers were carrying out intricate direct material procurement procedures manually and slowly and, based on their observation, they used their expertise to overcome this flaw. This is when CapGrid was incepted.