B2b Startups

Moglix signs initial pact with DPIIT for manufacturing incubation programme

B2B e-commerce platform Moglix on Wednesday said it has signed an initial pact with the Department for Promotion of Industry and Internal Trade (DPIIT) for manufacturing incubation programme. The initiative aims to equip growth phase startups with tools, resources, and opportunities to accelerate their progress and drive innovation in the manufacturing sector, Moglix said. The programme will support over 25 growth phase startups in industries such as chemicals, automotive infrastructure and green energy, Moglix said. These startups will participate in the 12-month manufacturing incubation programme offering access to Moglix's extensive mentor network, supply chain infrastructure, and financial support via its NBFC arm Credlix, it said. "This collaboration is a transformative step for India's manufacturing sector. By combining Moglix's technological expertise with DPIIT's strategic guidance, we aim to build a sustainable, innovation-driven manufacturing economy that empowers ...

B2B supply chain financing platform Mintifi raises $80 million from Prosus

The investment firm acquired a 10.65 per cent effective interest in the Mumbai-based fintech with the latest round of fund infusion

B2B e-commerce platform ElasticRun reduces FY24 loss to Rs 359 crore

Revenue for the financial year 2024 came in at Rs 2,434.84 crore, down 48.6 per cent year-on-year. Revenue for FY23 was Rs 4,738 crore

B2B healthcare startup HealthCRED raises $1.2 million in seed funding

The firm will utilise the raised capital to expand operations in the southern and western parts of the country

Salt revolutionises B2B cross-border payments for Indian merchants

Salt simplifies cross-border payments, automates compliance, and cuts processing time for Indian merchants, supporting SMEs, startups, and freelancers with cost-effective solutions

B2B fintech Vegapay raises $5.5 mn; co. to fund team expansion, operations

The company will utilise the capital raised towards expanding product and technology teams and investing in operations and compliance requirements

Streamlining business procurement: Inside ProcMart's B2B Marketplace

The startup streamlines indirect procurement by centralising the process onto a single platform, serving as the single point-of-contact between businesses and suppliers

Delhivery partners SUGAR Cosmetics for pan-India B2B logistic operations

Logistics company Delhivery on Thursday announced a partnership with SUGAR Cosmetics, a home-grown beauty brand to spearhead its pan-India B2B logistic operations. The logistics company has been a long-standing partner for the brand's D2C express parcel shipping, Delhivery said in an exchange filing. Further, Delhivery said in the statement that its extensive networks, technology-driven solutions, and express Part Truck Load (PTL) services will ensure faster delivery of B2B consignments, allowing SUGAR Cosmetics to better serve their retail partners. Commenting on the partnership, SUGAR Cosmetics supply chain Vice President Amartya Guha said SUGAR Cosmetics is on a high growth trajectory and needs a logistics partner that comprehends the demands of the digital native generation. Varun Bakshi, Head of Delhivery's Express Part Truckload business, said that brands like SUGAR Cosmetics, which have an omnichannel strategy, heavily benefit from their express PTL service for quick stock .

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

Cornerstone Ventures launches second fund worth $200 mn for B2B startups

Through the fund, investments will be made across stages, with a focus on early growth stage VC bets

Birla Pivot targets revenue of $1 bn in next three years, leverage tech

Birla Pivot, a B2B e-commerce platform for building materials of the Aditya Birla Group, is targetting revenue of USD 1 billion in the next three years, according to a top company official. The platform, a business unit of Grasim Industries, has crossed Rs 1,000 crore revenue in its first year of operations in FY24, the company said in a regulatory filing on Monday. "Birla Pivot's vision is to leverage technology to create smarter and more efficient solutions across the value chain for buyers and sellers. The aspiration is to reach USD 1 billion revenue in the next three years," Birla Pivot CEO Sandeep Komaravelly said. Bullish on India's construction industry, he said it is undergoing exponential growth and is projected to reach USD 1.4 trillion by 2025. "With less than 2 per cent digital penetration, the construction industry faces many challenges from fragmented supplier networks, and logistical bottlenecks to access to credit," he added. Launched in August 2023, Birla Pivot of

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

Udaan announces senior-level changes; Group CFO Aditya Pande resigns

udaan, an e-B2B (business-to-business) platform, on Monday announced senior-level organisational changes under which Group Finance Controller Kiran Thadimarri has been elevated to executive management team with additional responsibility of treasury, corporate finance and corporate audit. The company informed that Aditya Pande has decided to pursue opportunities outside of udaan, after a successful stint of over three years as Group CFO. Also, Vishnu Menon, Head of Corporate Strategy and investor relations, will take on the additional responsibility of business finance, as part of the organisational changes. The two executives -- Menon and Thadimarri -- will work towards further strengthening the financial and governance practices at udaan with the objective of enabling the company to achieve operational profitability and public market readiness in the next 12-18 months, according to a company release. Announcing the organisational changes, udaan said these are in line with the ...

Udaan's valuation shrinks by 43.5% to $1.7 billion in Series E round

Last year, Udaan raised $350 million in convertible notes and debt from shareholders and bondholders, with no change in valuation

Apis India to expand product portfolio, aims Rs 500 cr revenue in FY25

Homegrown FMCG firm Apis India plans to expand its product portfolio in the food segment and aims a topline of Rs 500 crore by the end of next fiscal, its Managing Director Amit Anand said on Tuesday. Besides, Apis India has plans to open a new plant to cater to the growing demand and is investing in branding and marketing to make its products more visible in the market. The listed company, which is present in the food segment with honey, dates, green tea and breakfast products, among others, is looking to expand its product portfolio and distribution footprints across the country. The Delhi-based company had reported a revenue of Rs 333.66 crore for the financial year that ended on March 31, 2023. The company gets nearly equal contributions from the B2B and B2C businesses. "There would be a substantial growth this year. We expect our B2C business and exports will grow. Besides, there is a unit in Dubai, UAE which is also rising very fast. We are looking to achieve Rs 500 crore by

Mandatory linking of e-invoice with e-way bill to cause disruption: Experts

Mandatory linking of e-invoice with e-way bill, applicable from March 1 for certain types of transactions, may cause disruption in operation and has created confusion among tax planners who are seeking clarification from the authorities, experts said on Sunday. The move was initiated after the mismatch in e-way bills and e-invoice statements was noticed in several cases, they said. "Blocking the generation of e-way bill without e-invoice/IRN details for B2B (business to business) and B2E transactions for e-invoice enabled taxpayers," said an advisory issued by the National Informatics Centre (NIC), which manages the indirect tax portal. Rajarshi Dasgupta, Head Tax at Aquilaw told PTI that the advisory on linking e-invoice with e-way bill will cause "technical difficulty in the hands of exporters having a turnover over Rs 5 crore as there is no time limit relaxation for the generation of e-invoice". "What would happen if there are multiple containers for a single consignment? How wi

Udaan said to be laying off 120 employees as it seeks profitability

The development comes at a time, when Udaan recently raised $340 million in Series E financing

India fourth in number of startups with over $50 mn funding: Scaleup Report

In the survey involving 12,400 startups, India is ranked fourth with 429 scaleups, after the US (7,184), China (1,491), and the UK (623)

Expect to hit full-year profitability in FY24: Practo CEO Shashank ND

The healthcare technology and services firm expects to grow at 100% y-o-y delivering about Rs 400 cr in revenue in FY24 and achieving positive cash flow and a full profitable year

Digital consulting firm KaarTech raises $30 mn in funding from A91 Partners

Chennai-based B2B company says it will use money to expand business in international markets