B2B Industrial Goods Marketplace Bizongo Raises Seed Funding From Accel Partners
Bizongo, a Mumbai-based B2B marketplace for industrial goods, has raised an undisclosed amount in seed funding from Accel Partners. The funding will be used to build a unified platform for businesses in the plastics, chemicals and packaging industries to buy and sell products/raw materials.
“Bizongo is launching a mobile application for suppliers to help them manage inventory, prices, inquiries, orders and live chat with potential buyers. We are also streamlining our logistics services to cater to wider geographies and achieve cost optimization through demand aggregation,” said, Aniket Deb, co-founder of Smartpaddle Technology Pvt Ltd, which runs Bizongo.
The startup aims to become a one-stop solution for all business interactions and transactions in the sector. According to the company, there’s an inevitable need in India for a marketplace which can provide the complete experience of selecting the right product, seamless communication between buyer/seller and secure transactions which Bizongo is trying to address.
Started by three former IIT-ians, Aniket Deb, Ankit Tomar and Sachin Agrawal in October, 2014, the company enables Indian SMEs, manufacturers and dealers online,helps them buy and sell ‘on the go’ through minimal effort.
Bizongo claims to have served over 2000 customers within a few months. The platform, currently, lists over 2000 products on the platform which belong to product categories like Construction Chemicals, Paints, Material Handling, Disposable Plastics and Plastic Raw Materials, etc.
The chemicals, plastics and packaging industry in India are worth $170 Bn. In September this year, Industrybuying.com, a New Delhi-based B2B marketplace, had raised $ 9 Mn in its Series B round of funding, led by Kalaari Capital. Bizongo faces competition from the likes of Tolexo, BazarA2Z, Alliedhunt and other tech startups. On the global front, ecommerce giant Amazon has launched its wholesale ecommerce property Amazon Supply. Alibaba too had launched a new site for B2B under the name 1688.com.