The problem of excess inventory has also brought an opportunity to the e-commerce platform.
According to foreign media VCCircle It is reported that India Excess2Sell has raised a US $ 1 million seed round, funded by Gautham Madhavan, a director of private equity firm Florintree Advisors Gautham Madhavan will also join the company’s board of directors. In this round of financing, the company will use it to improve platform technology, expand its market reach and provide more services to buyers and sellers.
Excess2Sell is a B2B e-commerce platform , founded in 2016, headquartered in Mumbai, India, and jointly established by Anant Chaturvedi, Navinder singh chauhan and Rajan Sharma, aims to help sellers sell excess Inventory of goods.
Excess inventory of goods will not only cause the problem of obsolete products being eliminated, but also the squeeze of inventory will cause suppliers to lack of capital chain. The Excess2Sell platform connects sellers and buyers and focuses on solving overstock issues for suppliers, distributors and wholesalers. In this process, the buyer and seller’s information is absolutely confidential, and the platform does not participate in any brand activities.
Excess2Sell has a wide range of products available for trading, including electronics, home appliances, clothing, and various accessories. The platform has more than 13,000 products, more than 30,000 registered members, and completed 2 billion orders. So far, Excess2Sell has branches in more than 50 cities in India and plans to expand to more than 100 cities this year.
Excess2Sell official website
E-commerce platform in India’s B2B market segment
According to a report by the Confederation of Indian Industry and Deloitte, the overall size of the Indian B2B e-commerce market is expected to reach about $ 700 billion by 2020. There are many types of e-commerce. In addition to e-commerce platforms like Excess2Sell, which focus on solving excess inventory for sellers, there are many market segments in India.
India’s Infra.Market e-commerce procurement platform, provides real estate and construction materials mainly through online platforms, including ready-mixed concrete, fly ash, Cement and construction chemicals. Infra.Market provides customers with a trading platform, supplier direct links and credit services. In December last year, Infra.Market received a $ 20 million Series A financing led by Tiger Global.
India’s Jumbotail food grocery delivery platform, which mainly provides daily necessities, spices, dried fruits, packaged foods and other FMCG retail and distribution services Last November, Jumbotail raised a new round of $ 2 million led by Nexus Venture Partners.
Indian unicorn Udaan A retailer platform that allows you to purchase goods directly from large distributors in multiple product categories , including clothing, pharmacies, and fast moving consumer goods And electronics. In addition, they are using Hiveloop Capital to address business pain points such as logistics and working capital needs for retailers. In September last year, Udaan secured a $ 300 million Series D funding round from Altimeter Capital and Footpath Ventures.