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IndiaMART
IndiaMART InterMESH Ltd is an Indian B2B online marketplace company, headquartered in Noida. The company started its operations in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com, a business-to-business portal to connect Indian manufacturers with buyers.
Founded in 1996 by two cousins Dinesh Agarwal and Brijesh Agrawal, IndiaMART began as a B2B directory and website developer for SMEs. At that time, India had only 15,000 internet users.
Due to Indian rupee's appreciation between 2005 and 2007 and the impact of the 2008–09 US recession, the company decided to pivot the focus from export-oriented business to India-focused B2B market and raised funding from The Times Group and Intel Capital.
In March 2016, it raised Series C funding from Amadeus Capital Partners and Quona Capital to scale up the activities of IndiaMART and Tolexo. In 2016, IndiaMART invested in ProcMart.
In June 2018, IndiaMART filled draft papers with SEBI to raise ₹600 crore through IPO and list on NSE and BSE. In July 2019, IndiaMART went public via an IPO of ₹474 crore. IndiaMART became the first online B2B marketplace to go public in India.
As of 2019, IndiaMART was the largest Indian B2B marketplace for businesses with about 60% market share, according to KPMG.
In January 2022, IndiaMART acquired 100% stake in accounting software company Busy Infotech for ₹500 crore, the acquisition was completed in April 2022, making BUSY a wholly owned subsidiary. Busy is an Indian accounting software company focused on SMEs, offering comprehensive accounting, inventory management, and Indian indirect-tax compliance solutions, including complete GST functionalities such as e-invoicing and e-way bill generation.
In 2019, IndiaMART led the Series A funding round in Vyapar. In 2022, IndiaMART invested an additional ₹61.55 crore in Vyapar as part of its Series B funding.
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IndiaMART
IndiaMART InterMESH Ltd is an Indian B2B online marketplace company, headquartered in Noida. The company started its operations in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com, a business-to-business portal to connect Indian manufacturers with buyers.
Founded in 1996 by two cousins Dinesh Agarwal and Brijesh Agrawal, IndiaMART began as a B2B directory and website developer for SMEs. At that time, India had only 15,000 internet users.
Due to Indian rupee's appreciation between 2005 and 2007 and the impact of the 2008–09 US recession, the company decided to pivot the focus from export-oriented business to India-focused B2B market and raised funding from The Times Group and Intel Capital.
In March 2016, it raised Series C funding from Amadeus Capital Partners and Quona Capital to scale up the activities of IndiaMART and Tolexo. In 2016, IndiaMART invested in ProcMart.
In June 2018, IndiaMART filled draft papers with SEBI to raise ₹600 crore through IPO and list on NSE and BSE. In July 2019, IndiaMART went public via an IPO of ₹474 crore. IndiaMART became the first online B2B marketplace to go public in India.
As of 2019, IndiaMART was the largest Indian B2B marketplace for businesses with about 60% market share, according to KPMG.
In January 2022, IndiaMART acquired 100% stake in accounting software company Busy Infotech for ₹500 crore, the acquisition was completed in April 2022, making BUSY a wholly owned subsidiary. Busy is an Indian accounting software company focused on SMEs, offering comprehensive accounting, inventory management, and Indian indirect-tax compliance solutions, including complete GST functionalities such as e-invoicing and e-way bill generation.
In 2019, IndiaMART led the Series A funding round in Vyapar. In 2022, IndiaMART invested an additional ₹61.55 crore in Vyapar as part of its Series B funding.