Business, Ecommerce

Indiamart plans to raise $100M, to launch

Online B2B marketplace- is planning to launch its online shopping platform, as per the IndianOnlileSeller report. The service will go live approximately in mid-July. Also, it is expected to raise USD 100 million in the coming 2-3 years. It is backed by Intel capital and Bennett, Coleman & Company Ltd. was launched in 1996, it is a venture of CEO Dinesh Agarwal and Co-Founder Brijesh Agarwal. Noida headquartered, an online listing platform for all indian online businesses provides around 100 industry/product marketplace. It offers products in different categories like auto parts, cloths, design and pharmaceuticals and mostly products are available on its site.

With Tolexo, the company will continue its services for both consumers and sellers and the new company will be named as Tolexo online Pvt. Ltd. “Tolexo won’t be competing with Flipkart and other similar e-commerce sites, because it will provide different types of products,” said Brijesh. It will launch products like medical equipment, handicraft and auto parts etc.

At present, the company attracts over 1.5 million registered users, 1.6 million visitors and daily 9.3 million page views.

“Since IndiaMART already maintains a large merchant base, it won’t have to spend much money on attracting sellers,” said Subho Ray, President of the Internet and Mobile Association of India.

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