Issues with B2B transactions in India
The process of inter-business (popularly known as B2B) transactions in India suffers from innumerable hurdles. The lack of proper information pertaining to buyers and products makes the buying of products required urgently rather inconvenient and difficult. Bizongo , an online B2B marketplace, aims to offer the ultimate one-stop solution in this regard.
What is Bizongo?
Set up by ex-IITians Ankit Tomar, Aniket Deb and Sachin Agrawal in October 2014, the Mumbai-based startup has provided an immense boost to the quality of B2B transactions in the plastics, chemicals and packaging industries. In particular, Bizongo hopes that its easy-to-use marketplace will provide great aid to SME’s , whose lack of resources often makes quality procurements of material on time difficult.
Over 2000 products are currently listed on the platform. They are immaculately categorized, according to the nature and use of the products in question. For instance, products in the plastics category are further categorized into Medical Consumables and Plastic Raw Materials , with the latter being subdivided into Reused Plastic Raw Materials , Virgin Plastic Raw Materials and Masterbatches.
Such categorizing enables businesses to seek their desired products in a hassle-free way.
Why Chemicals and Plastics?
Much of the chemical and plastics market is based in and around the Mumbai/Gujarat area, and the currently unorganized nature of the market made Bizongo zoom in on it as a target. The streamlining of product acquisitions which Bizongo has made possible has allowed SME’s in particular, to add quality items to their inventories at low cost.
Funding Update and the road ahead
Recently, Bizongo managed to raise an as of yet undisclosed, yet significant amount of seed funding from Accel Partners. Bizongo aims to expand its services by hosting live chats among buyers and suppliers, as well as providing mobile app, and covering a greater geographic area.
PS’s take
Bizongo’s innovative online platform has made hassles in B2B transactions in the plastics, chemicals and packaging industries a thing of the past. The harnessing of technology to create such highly effective marketplaces is sure to benefit innumerable businesses in the years ahead.
