IndiaMART, an India-based online marketplace, raised a Series C funding of undisclosed amount.
The round was led by Amadeus Capital with participation from Westbridge Capital, the Accion Frontier Inclusion Fund, managed by Quona Capital, and Intel Capital.
The company will use the funds to further strengthen its leadership position in the B2B segment by scaling up Indiamart.com along with Tolexo.com.
and ultimately assist more of India’s entrepreneurs to launch businesses, restock their shelves and connect with more business opportunities.
Founded in 1996 by Dinesh Agarwal, CEO, IndiaMART offers a platform and tools to over 24 million buyers to search from over 30 million products and get connected with over 2.1 million suppliers. In line with its mobile first strategy, the company’s platform receives over 63% of traffic via mobile apps across Android, iOS, Windows, and BlackBerry.
Launched in 2014, Tolexo.com is an e-commerce platform for business goods and supplies that has already built a large collection of over 1 million products.
The company currently has over 3,000 employees located across nearly 60 offices in the country.