SAIF Partners has announced $2 million worth investment to further accelerate Industrybuying.com, Indian platform for industrial e-commerce, observing its growth rate and customer success. This funding shall be utilized to continue traffic growth, expand product coverage and drive massive revenue growth. The firm also intends to build custom e-commerce products to bring corporate buying online.
The company was founded by Rahul and Swati, the company has created Indian online e-commerce platform for selling industrial products with a catalog of 1.5 lac items. Its omni-channel presence includes online e-commerce and offline corporate customers like Motherson Sumi, Havells, RPG, Honeywell, Siemens, Tata Power,Escorts and many more.
SAIF provides seed, early, and growth stage capital for emerging companies in India and China. SAIF began partnering with entrepreneurs in India in 2002 and has backed over 40 companies since then including MakeMyTrip, JustDial, PayTM, BookMyShow, and Urbanladder.