1. Industrybuying gets investment from TVS, Murugappa

Industrybuying gets investment from TVS, Murugappa

Catching up with the trend of family-owned businesses emerging as investors, Chennai's two major business groups — Murugappa and TVS — have invested an undisclosed amount in Industrybuying.com...

By: | Chennai | Published: December 22, 2015 1:34 AM

Catching up with the trend of family-owned businesses emerging as investors, Chennai’s two major business groups — Murugappa and TVS — have invested an undisclosed amount in Industrybuying.com, an online marketplace selling industrial products to SMEs as well as large businesses featuring over 300,000 products on its platform.

The funding round saw participation from Vellayan Subbiah, MD, Chola Finance, Muthu Murugappan, business head Nutraceuticals – EID Parry, Arun Venkatachalam, angel investor, and Arathi Krishna, JMD Sundram Fasteners from TVS group. The funds will be used for further development of the platform, establish a nationwide sales force, increase its vendor base and develop a full suite of digital offerings for B2B brands, said a statement by Industrybuying.com.

The company was founded by siblings Rahul Gupta and Swati Gupta in 2013 after the duo moved back to India from United States.

  1. E
    Evelyn Joseph
    Dec 23, 2015 at 3:35 am
    Great investment... Through this SMEs can buy their products easily... Evelyn from Bizbilla
    Reply

    Go to Top