Industrybuying.com hires former Snapdeal, Honeywell executives

19 Feb, 2016

Industrybuying.com, an online marketplace for industrial goods, has strengthened its top deck by appointing Ravi Verma as VP marketing and Anuj Tiwari as business development head.

"As our focus continues to be building a profitable business, filling up the senior management positions was the next logical move after the fund raising," said Swati Gupta, co-founder of Industrybuying.com.

Verma, an alumnus of IIT Kanpur and IIM Lucknow, was previously part of Snapdeal's marketing team. He has also headed the digital marketing at Apollo Munich Health Insurance and has worked for high-growth early stage e-commerce startups.

Till recently, Tiwari was director at Honeywell Connected Homes in India and is a startup specialist.

Industrybuying.com recently raised $1.8 million (Rs 12 crore) in debt financing from venture-debt provider Trifecta Capital.

In December 2015, Industrybuying.com had received an undisclosed amount in angel funding from family members of the Chennai-based Murugappa and TVS groups. It is also backed by Kalaari Capital, SAIF Partners and Teruhide Sato's Beenext.

Industrybuying was co-founded by siblings Rahul and Swati Gupta in 2013. Swati Gupta is a former Bain & Co employee and has 14-years of management consulting and private equity advisory experience in New York and India. Rahul Gupta, an alumnus of Columbia University, previously worked as a trader with Lehman Brothers.

Industrybuying competes with Tolexo, Bizongo and Shotang and Moglix, besides other online players.

Last month Power2SME, an online buying hub for small and medium enterprises (SMEs), raised an undisclosed amount of funding from Infosys co-founder and former UIDAI chairman Nandan Nilekani with participation from existing investors Accel Partners, Kalaari Capital and Inventus Capital.

Also, Tata Sons' chairman emeritus Ratan Tata put an undisclosed amount in online market place for industrial tools Moglix.