Online marketplace for industrial goods, Industrybuying.com that was founded by Rahul Gupta and Swati Gupta in 2013, has raised Rs. 12 crore from venture debt firm Trifecta Capital. This is the fourth investment made by Trifecta Capital. The firm has also backed companies like Rivigo, HelpChat and Neproplus.
The fresh investment will be used by the company for talent acquisition and strengthen its supply chain. The firm is also looking for branding and positioning.
In September 2015, the company had secured an amount of Rs.60 crore in Series B round of funding from Kalaari Capital, Teruhide Sato’s Beenext and its existing investor SAIF Partners.
Industrybuying’s Co-Founder Swati Gupta told ET, “the company has so far invested close to 40% of the overall funding amount towards marketing and will start with campaigns in offline media soon.”
The company is featuring a range of utility products for all industrial purposes. Currently, the website maintains a catalogue of over 250,000 products from more than 1,000 brands across global geographies. It competes with the likes of Bizongo and Tolexo.
Today, Tolexo has also announced the launch of a fulfillment service, ‘Tolexo Speedy’ to arrange storage and dispatch of products by enlisting the services of its warehousing partners. The new feature is currently available for over 20,000 products under the eight categories on the marketplace, including safety shoes, LED lights, power tools and hand tools.