Gurgaon-based OfBusiness was founded in 2015 by Asish Mohapatra, Bhuvan Gupta, Chandranshu, Nitin Jain, Ruchi Kalra and Srinath Ramakkrushnan. It is a business-to-business (B2B) marketplace focusing on product commerce. It aims to provide products at better prices in time, through a comprehensive online and offline support like logistics and a credit platform.
The newly raised capital will be used to expand the team and build a technology platform for SMEs.
Vikram Vaidyanathan, Managing Director, Matrix India said, “SME’s in India are already using the internet (through Whatsapp) for information sharing and communication. We believe in the ‘OfBusiness’ vision that these SMEs are ready to transact, beginning in an assisted manner, for all their monthly purchases.”
The startup is currently operational in 10 states across the country and is active across two verticals – construction and manufacturing. It plans to enter healthcare soon.