Delhi based B2B Ecommerce player Industrybuying.com has raised INR 12 cr. from venture-debt provider Trifecta capital. Venture debt is an alternate form of finance often used by startups to extend runway, fund capex, optimize dilution or finance their working capital needs.
“Trifecta is excited to support Industrybuying as it gears up to exploit the huge opportunity in B2B eCommerce in India. We are attracted by size of the opportunity, the quality of the founders and the Venture Capital funds that have backed the company. Besides providing Venture Debt, we hope to be able to leverage our network of investors, including domestic institutions and industrial family offices to help the company scale faster”, said Nilesh Kothari, Co-Founder and Managing Partner at Trifecta Capital.
Swati Gupta, co-founder of Industrybuying said -” The investment would be used to finance the working capital and also drive growth in the Enterprise arm of Industrybuying – an arrangement between Industrybuying and Enterprises where special rates are negotiated for procurement of products. Enterprises get access to these special rates through the Enterprise portal which is a tailored version of Industrybuying.com specifically created for that particular Enterprise.”
In August 2015, Industrybuying raised INR 60 crore in series B round led by Kalaari Capital and existing investor Saif Capital. Singapore based Beenext and Private investors from family businesses TVS and Murugappa group have also invested in Industrybuying.