Post four months of leading $10 Mn Series D funding round in MSwipe, Facebook Co-founder Eduardo Saverin’s B Capital has added another Indian startup to its portfolio – the Mumbai-based B2B online marketplace Bizongo (Business On-The-Go).
B Capital along with International Finance Corporation (IFC) has led $22 Mn Series B funding round in Bizongo, in participation with the existing investors, Accel Partners and IDG Ventures. With this funding round, Bizongo aims to focus on advancing its technology platform and design functions, as well as strengthen its teams across cities.
Founded in 2015 by IIT graduates Aniket Deb, Sachin Agrawal and Ankit Tomar, Bizongo is a B2B online marketplace offering industry packaging supplies for sectors such as ecommerce, retail, restaurant and hospitality, FMCG, Pharma, industrial logistics, food and beverage.
“But essentially, we are a one-stop technological platform for enterprises packaging solutions. We aim to provide an end-to-end tech enabled solution and essentially act as an enabler between the buyers and the suppliers,” shared Aniket in a recent interaction with Inc42.
Kabir Narang, Partner and Co-lead for Asia investments at B Capital, said, “Finding the right solution in India’s $40 Bn packaging market with over 30,000 vendors is time consuming – Bizongo makes the process easy by leveraging an in-house design studio, a curated marketplace of over 200 manufacturers and innovative supply chain technology. We are excited to be backing Bizongo and look forward to leveraging our global network of corporate leaders to accelerate growth.”
The B2B online marketplace had raised Series A funding of $3 Mn in November 2016 to expand their seller base and serve pan-India demand in a better fashion. So far, Bizongo has raised an amount of $25 Mn funding.