Hello Readers,
B2B (business-to-business) marketplace IndiaMART made a strong debut on the bourses three years ago when its Rs 475 crore IPO was oversubscribed over 36 times. Last year, the company raised about Rs 1,070 crore from qualified institutional buyers.
With its cash reserves full, the company started looking at expansion.
But acquisitions are a different ball game altogether — especially for a company with a network of over 143 million buyers and 7 million+ store fronts, facilitating buy-sell transactions spanning over 97,000 different categories.
Between February and November 2021, “We met about over 200-300 companies, explored various sectors,” Dinesh Agarwal, Founder and Chief Executive Officer of IndiaMART, tells YourStory.
Since April 2021, it has spent over Rs 905 crore across 13 deals. In the last five months, it has bought stakes in nine tech startups including Zimyo, Realbooks, IMPL, Fleetx Technologies, Busy Infotech, Simply Vyapar, Legistify, EasyEcom, and M1Xchange — across accounting, logistics, etc.
These investments fall in line with IndiaMART’s long term vision of providing a holistic ecosystem for all business needs.
Editor’s Pick: Deefy
While Web 3.0 concepts such as Non-Fungible Tokens (NFTs), cryptocurrencies, and blockchain have entered common parlance due to widespread adoption, they come with their own risks.
Founded by Amogh Tiwari and Ujwal Gupta in 2022, Delhi-based platform Deefy aims to address these risks and make NFT transactions easier than ever before. Read more.
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Making SaaS startups enterprise-ready
While technological solutions can help small SaaS (Software-as-a-Service) startups become more efficient or more able to solve problems, they are generally not “enterprise ready,” meaning large organisations need additional features to use the solution.
This led Deepak Prabhakara and Carlos Samame to found BoxyHQ, which has created an open-sourced low-code platform that helps SaaS startups to add enterprise to their existing solutions. Read more.
Losing weight can be a time-consuming and meticulous exercise as preparing food tailored to your goals can get complex.
This is where Mumbai-based Food Darzee steps in to take the hassle out of healthy eating. The health and nutrition startup helps users achieve fitness goals through nutrition-related consultations and personalised meals. Read more.
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