B2B Marketplace Bizongo Raises Funds from Accel

Bengaluru:
Bizongo, an online B2B marketplace for industrial goods and supplies, has raised an undisclosed amount of funding from Accel Partners. The company will launch a mobile application for suppliers to help manage inventory, inquiries, prices, orders and enable live chat with potential buyers, said cofounder Aniket Deb, who launched operations in April this year. We are also streamlining our logistics services to cater to wider geographies and achieve cost optimisation through demand aggregation,“ said Deb. This funding comes at a time when startups in the country are placing all bets on the B2B ecommerce industry that is estimated to grow to $700 billion by 2020 from $300 billion, according to a Walmart report in 2014.“B2B commerce is complex ­ finding the right suppliers is a hard problem. Bizongo is solving this problem by creating a marketplace where discovery and transactions can happen with trust and ease,“ said Mahendran Balachandran, partner, Accel Partners.

Source: The Economic Times

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Author:

Neeraj; an entrepreneur & a visionary in the field of Railway, Defense & Automobiles, is a graduate in commerce and a Harvard Business School Alumni. He’s an expert in govt. liasoning & contracting and has an exceptional network & connections at both local as well as global level. He’s an expert in Market Strategy & Planning and has served number of overseas companies as an advisor/consultant. He takes a profound interest in upcoming startups & is very receptive towards ground-breaking ideas & innovations. He likes to brainstorm those ideas and if the values & philosophies matches; he is even ready to invest his resources, serve as a mentor or act as an incubator to futuristic businesses.

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