Delhi NCR-based B2B marketplace: IndiaMART invests INR 7.5 Cr in Truckhall to Purchase Compulsorily Convertible Debentures

• ByStartupStory     |    April 20, 2022

IndiaMART, the Delhi NCR-based B2B marketplace, has invested about INR 7.5 Cr in Truckhall (SuperProcure) in order to purchase compulsorily convertible debentures through its wholly-owned subsidiary Tradezeal Online. 

According to a statement, in order to enhance its product offerings and reach more enterprises in future, Truckhall (SuperProcure) would utilise the funds.

In April 2021, IndiaMART had led the seed investment round of SuperProcure, in which INR 9.68 Cr has been invested by it as primary capital, and existing investor securities worth INR 1.33 Cr has been purchased via secondary share purchase.

A SaaS platform SuperProcure (Truckhall), digitises the entire freight sourcing and dispatches monitoring system of the logistics department of an organisation, as per a stock filling. 

It allows logistics departments To find the best possible rates through a transparent bidding and auction structure, has been allowed by it to the logistics departments, thus saving costs.

IndiaMART, founded in 1999 by Dinesh Agarwal and Brijesh Agrawal,  it connects buyers with suppliers. To make doing business easy has been aimed by it. With 143 Mn buyers, 7 Mn sellers, and has 80 Mn products it asserts to have been trusted in as well as lead by services on its platform to approximately 40 Mn business enquiries every month.

From indenting to delivery, via alerts, dashboards and reports, which improves collaboration and the control tower that makes the spot decision making easier, the unified platform offers full and real-time visibility to all events across the entire dispatch cycle, the statement claims.

Meanwhile, in SaaS-based human resource startup Zimyo, the B2B marketplace invested INR 17 Cr in March 2022.

Further, IndiaMART also invested in Adansa Solutions, the parent company of Realbooks of about INR 13.75 Cr in February 2022. A cloud-based fintech startup Realbooks helps businesses with easy financial accounting. 

Since IndiaMART’s listing on BSE and NSE in 2018, it has invested in a host of startups including Vyapar, Aerchain, M1xchange, Bizom, Shipway, Legistify, SuperProcure, Easyecom, Fleetx, Industry Buying and BUSY. 

New-age tech companies including Udaan, DealShare, among others have been competed against by the B2B marketplace. 

IndiaMART focuses on providing a ‘360-degree solution’ to Small & Medium Enterprises (SMEs), large enterprises as well as individuals, with a 60% market share of the online B2B classified space in India. 

The B2B marketplace is trusted with 7 Mn sellers, 143 Mn buyers, and has 80 Mn products & services on its platform leading to business enquiries of about 40 Mn every month. 

From its operations, IndiaMart in Q3 of FY22 ( Oct-Dec) has earned INR 188 Cr. Posted during the same period in the last financial year i.e., in FY21, this is almost an 8% rise from INR 174 Cr, states a report.

As compared to a 51% margin to INR 88 Cr in Q3 of FY21, the company posted an EBITDA margin of 42% to INR 79 Cr in Q3 of FY22.

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