B2b Connect

India's kirana stores turn to eb2b innovation, udaan leads market growth

Udaan is revolutionising how kirana stores operate by offering digital solutions that streamline procurement, boost efficiency, and facilitate access to formal credit

B2B marketplace ProcMart raises $30 mn in series B funding from Fundamentum

The company is set to enter newer industries beyond MRO consumables such as Biofuel and packaging, expand its distribution network in India and strengthen international operations in Southeast Asia

Vipul Organics bags Rs 7.15 cr worth order from TNPL to supply pigment dye

Specialty chemicals maker Vipul Organics on Monday said it has bagged an order worth Rs 7.15 crore from Tamil Nadu NewsPrint and Paper Ltd (TNPL) for supply of blue and violet pigment dye. Paper dye is a new category of business that Vipul Organics ventured into only in 2022, after spending 18 months on product innovation. "Within two years, we have become the preferred colorant suppliers to the paper industry. It is exciting to be able to meet the requirements of the industry and be known for our innovative, high quality products for the industry," Vipul Organics Executive Director Mihir V Shah said in a statement. Vipul Organics is on course to meet its target of Rs 50 crore from this sector over the next three years, he said. The company has received a strong positive response to the offering for the paper industry through participation in B2B shows of the industry. "We have been busy converting our trial orders to full orders," he added. In India, the dyes and pigments segment

AI sales platform Kanlet raises $400,000 in pre-seed funding led by Suvan

Company that provides data and insights for B2B sales will use the financing for product development, marketing

Reliance Retail to scale up distribution of clothing under B2B venture

Reliance Retail has launched over 50 exclusive brands and plans to increase the number by 2-3 times, under its strategy to expand the fashion business beyond its own stores

HDFC Bank-Diners Club eyes B2B space to grow credit card business

In the B2B segment, HDFC Bank has a Flipkart-Diners wholesale card, which is typically offered to small retailers who normally make purchases from different distributors

Bajaj Finance's B2B segment to add 1,000 cities in the next three years

In Q1 FY24, B2B disbursements were up 37 per cent at Rs 22,625 crore as against Rs 16,502 crore in Q1 FY23. Its AUM stood at Rs 2,70,097 crore at the end of June 2023

E-comm B2B market likely to reach up to $100 billion by 2030: Report

India's business-to-business ecommerce market (eB2B) market is projected to reach $90-$100 billion by 2030, growing at compound annual growth rate (CAGR) of 40-45 per cent from $5-6 billion in 2022

IndiaMART net profit flat at Rs 56 cr in Q4; revenue rises 33% to Rs 269 cr

Online B2B marketplace and discovery platform IndiaMART InterMESH on Friday reported Rs 56 crore consolidated net profit for the March 2023 quarter. The company had posted a net profit of Rs 57 crore in the corresponding quarter a year ago, IndiaMART said in a statement. Its consolidated revenue from operations, however, grew 33 per cent to Rs 269 crore against Rs 201 crore in the year-ago quarter. The consolidated cash flow from operations stood at Rs 209 crore during the quarter under review, the company said. IndiaMART collected a total of Rs 418 crore from its customers during the fourth quarter of FY23, 31 per cent higher than Rs 318 crore mopped up in the same quarter of FY22. During the entire 2022-23, the company's net profit fell 5 per cent to Rs 284 crore compared to Rs 298 crore recorded in the preceding fiscal. However, the consolidated revenue from operations increased 31 per cent by Rs 985 crore in FY23 from Rs 753 crore in FY22. The cash flow generation rose 18 per

JSW One raises Rs 205 cr from Japan's Mitsui at Rs 2,750 cr valuation

B2B e-commerce firm of JSW Group will use the financing to expansion business

Reliance Retail may convert Metro Cash & Carry stores into B2B outlets

They may not be converted into hypermarkets and supermarkets as many are on city outskirts

Rasna founder Areez Khambatta passes away at 85 due to cardiac arrest

He created affordable soft drink packs of Rasna in the 1970s as an alternative to soft drink products sold at high costs

Gatik's driverless B2B delivery service gains pace in US and Canada

The middle-mile segment, unlike long-haul transport or last-mile delivery to an end consumer, involves business-to-business (B2B) operations, mostly from a warehousing location to a retail centre

Udaan, Jiomart led India's B2B e-commerce market to reach $100 bn by 2030

India's B2B e-commerce market, led by players like Udaan and Jiomart, will reach $90-100 billion in gross merchandise value (GMV) by 2030, a report showed

GST e-invoicing must for entities with Rs 10 cr turnover from Oct 1

Presently, the process is mandatory for businesses with an annual turnover of Rs 20 cr and above

Starlink stoops to conquer: That's a whole new road for Elon Musk in India

The company's target after getting the licence is to have 200,000 terminals across the country by December 2022, 80% of them in rural locations

Udaan names co-founder Vaibhav Gupta as CEO, plans IPO in 18-24 months

The B2B e-commerce platform looks at becoming a publicly listed entity in the next 18-24 months.

Moglix acquires used machinery e-commerce firm Vendaxo for undisclosed sum

Move is a step towards creating a sustainable, capital-efficient manufacturing ecosystem; Moglix aims to provide access to high-value capital goods at economical prices to manufacturers

From Jan 1, e-invoicing mandatory for firms with turnover Rs 100 cr or more

Currently, e-invoicing is mandatory for companies with annual turnover of at least Rs 500 crore

B2B ecommerce platform Jumbotail raises $11 million from Heron Rock, others

The Bengaluru-based startup that serves 30,000 kirana stores will use the funds to scale its core B2B marketplace to new geographies