IndiaMART, the largest B2B marketplace of India has made an investment of approximately INR 15.1 Crores to acquire 7.96% stake in Mobisy Technologies Private Limited (‘Bizom’) via a secondary share purchase of existing investor securities. This investment will result in IndiaMART increasing its stake to 25.08%.
Bizom is a SaaS based end to end retail intelligence platform for brands and B2B retailers. It allows businesses to digitize the end-to-end sales and distribution platform from Sales Force Automation (SFA), Distributor Management System (DMS), and retail execution and management. It uses a proprietary analytics engine with AI and ML to deliver custom reports, alerts and actionable insights to brands.
The technology also uses features like image recognition, and offers an auto replenishment system, business intelligence, smart merchandising, trade financing, trade promotion management, and more.
Speaking about the investment, Mr Dinesh Agarwal, founder and MD of IndiaMART said “Bizom continues to be one of the market leaders in the SFA and DMS space in India. They have grown significantly in a capital efficient manner since our initial investment. We are excited to further our commitment and partnership with Lalit, Shree and team as they scale further ”.
Commenting on the deal, Lalit Bhise, CEO and Co-founder of Bizom said “We are extremely glad to see the continued faith of Indiamart in Bizom’s business and growth. We are grateful to Dinesh and the Indiamart team for helping us scale in the last two years.”
IndiaMART is India’s largest online B2B marketplace, connecting buyers with suppliers. With a 60% market share of the online B2B Classified space in India, the channel focuses on providing a “360- degree solution” to Small & Medium Enterprises (SMEs), Large Enterprises as well as individuals. Founded in 1999, the company’s mission is ‘to make doing business easy’ and is trusted with 160 million buyers, 7.3 million sellers, and has 87 million products & services on its platform leading to ~40 million business enquiries every month. During FY-22, company had consolidated revenue of INR 866 Crores and profit after tax of INR 298 Crores. The company reported consolidated revenue of operations of Rs 241 Cr and consolidated EBITDA of Rs 67 Cr in Q2 FY23.
IndiaMART is known for transforming the dynamics of Indian businesses by providing them a one-stop solution to transform their business digitally and grow themselves by reaching their customers online. More details on IndiaMART can be accessed at https://corporate.indiamart.com
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