Mumbai-based Bizongo, an online business-to-business marketplace for packaging materials, just raised US$3 million in series A funding from IDG Ventures and Accel Partners.
Founded in 2015 by IIT Bombay and IIT Delhi graduates, Bizongo sells boxes, containers, pouches, and bags – servicing industries like food, hospitality, consumer goods, retail, wholesale, and ecommerce.
The newly raised money will be used to expand its seller base, building, automation, and improving its supply chain. The company also plans to hire more as it betters its technology and operations.
But most importantly, the one-year-old #startup is looking to partner with large corporates, especially in retail and manufacturing sectors, to handle their end-to-end packaging needs, CEO Aniket Deb tells Tech in Asia.
“Businesses purchasing from us trust our in-depth catalogue, quality, on-time delivery, and ease of purchase – and not just best price. The best part of our business is that we get over 50 percent of our monthly revenues from repeat customers,” Aniket adds.
Bizongo says its “procurement center” allows clients to view pre-price-negotiated supplies, and also enables buyers to predict price variations, or even future buying dates.
The startup says it has around 2000 clients and counts Flipkart, Bigbasket, national grocery chain Hypercity, and chemicals company Bayer as top clients.