Vendor Infra, a business to business (B2B) platform for the infrastructure and construction industry, has raised $265,000 (around Rs 1.98 crore) in an angel funding round led by execs from the infrastructure and IT industry, the company said in a statement.
SK Tripathi, MD and CEO, JMC Projects (India) Ltd; Amit Agarwal, CFO, JK Fenner (India) Ltd; Narayan Ramaswamy, founder and CEO of B2B Digital Ecosystem for SME; Dinesh Arora, Partner and Deals Leader in top 4 Management Consulting; Puneet Chandra, co-founder of Skootr Global; AngelBay and other industry executives participated the round.
The funds will be utilised to expand the team, promote and brand the company, and expand internationally. Aside from that, funds will be used for technology updates and platform development, according to the statement.
Vendor Infra said it will be ready for another round of funding in the coming six months to venture into the next growth phase.
Founded in October 2019 by Rahul Jain, Vendor Infra is a B2B digital collaboration platform, primarily for infrastructure and construction companies, vendors, manufacturers, suppliers and consultants.
The company said its project management services are designed to enable businesses to grab and manage the data of the recommended vendors for large-scale infrastructure projects to quickly identify and evaluate the most relevant vendors for their projects.
Infra focused startups have received a slew of investor interest in the year, On December 17th, OfBusiness, raw material procurement and business financing platform, raised $325 million in its fourth major equity fundraise this year led by Alpha Wave Ventures II (formerly known as Falcon Edge Capital).
In May, Industrial goods marketplace Moglix raised $120 million (Rs 878 crore) as part of its Series E funding.