Internet-based businness to business commerce companies in India registered over three times jump in funding this year compared to last year, a report published by startup data collector Tracxn said. B2B e-commerce ventures have so far secured $85 million in capital compared to $21.07 million in 20115, at a time when cash guzzling consumer centric technology startups have seen a significant slowdown in funding. Globally, China and US have seen B2B commerce firms raise $950 million and $140 million, respectively so far this year.
Close to 470 companies are operating in this space in India out of which 333 were founded in 2014 or after, Tracxn said. As many as 50 such ventures have received funding so far while 28 companies got funded in this year. Delhi NCR (138), Bangalore (89) and Mumbai (59) are home to most number of startups in this space.
“Sub-sectors like food & beverages, fashion and industrial goods have secured the bulk of the funding this year. Some notable funding activity was also observed in the home construction & improvement sub sectors,” the report noted.
Noida-based IndiaMART, which is one of most well capitalized companoes recently raised Rs 150 crore from a bunch of investors. Power2SME, JustBuyLive and Kolkata-based B2B portal for metals and coal trade Mjunction were seen as companies that are good candidates for late stage investment based upon good growth curve and scalability. Of Business, Buildzar, Shotang and Ninjacart are some of the notable companies in the space as well, the report said.
Source: Times of India
