Industrybuying gets investment from TVS, Murugappa

By: | 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...

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.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition