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IndiaMART aims to help Indian MSMEs get online through latest round of fundings

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New Delhi: Announcing a new round of financing led by Amadeus Capital with participation from Westbridge Capital, the Accion Frontier Inclusion Fund in addition to Intel Capital, IndiaMART is all set to use the funds raised to further strengthen its leadership position in the business to business segment. With this MSME’s are likely to be benefited as the company plans to help them get online. It will assist more of India’s entrepreneurs to launch businesses, restock their shelves, and connect with more business opportunities.

On the announcement of the Series C funding, Dinesh Agarwal, Founder and CEO, IndiaMART said, “As pioneers in this field, we understand that there lies a huge untapped opportunity with Indian MSMEs as well as big corporate buyers who consolidate their forces through IndiaMART. While businesses have been followers in adopting internet, more so in India, globally B2B is a much larger opportunity. The Indian B2B sector itself is set to grow by 2.5 times and touch $700 billion by 2020. Given the socio-political and environmental forces in the country we foresee larger strides being taken by MSMEs in the coming years. We are elated that we share the same synergies with our new investors.”

This is the first investment in an Indian company by Amadeus Capital Partners, the global technology investor that has a near twenty-year track record investing in sectors including communications, semiconductors, medical technology, and enterprise and infrastructure software.

Bhavani Rana, who led the investment on behalf of Amadeus Capital, commented, Leading the Series C financing into IndiaMART, India’s most successful B2B classified listing marketplace, represents Amadeus Capital’s first direct investment in India. The investment fits Amadeus’ strategy of backing entrepreneurs benefiting from increased penetration of digital technology in emerging markets. As MSMEs in India increasingly come online, IndiaMART offers buyers a trusted platform and tools to search from over 30 million products and connect with reliable competitive suppliers. Through its subsidiary Tolexo, IndiaMART is able to utilise data to help consummate transactions within the platform. We are excited to be working with founders Dinesh and Brijesh as they grow and expand into new market segments.”

“IndiaMART is at the intersection of commerce, payments, and finance,” said Ganesh Rengaswamy, a Partner of Quona Capital, the investment manager of the Accion Frontier Inclusion Fund. “That strategic position will help lead to IndiaMART’s success. By providing much-needed commerce, financing and payment solutions to India’s MSMEs, IndiaMART can address the key bottlenecks that impair small businesses’ access to both resources and capital. Doing so will ultimately create the most comprehensive platform for India’s MSMEs, and a vital resource for the country’s entrepreneurs.”

“As a leading platform connecting and bringing millions of SMEs online, IndiaMART is well aligned with Intel’s efforts of enabling a Digital India – bringing the benefits of computing to help improve productivity, competitiveness and ease of doing business for the SME sector,” said Amit Behl, Investment Director, Intel Capital India. “We look forward to working with our new investor partners and IndiaMART’s management team as they continue to develop more innovative services for SMEs.”

 

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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