Bizongo gets $3 million from Accel, IDG Ventures 

Bizongo gets $3 million from Accel, IDG Ventures 
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Story Dated : November 5, 2016

Bengaluru: Bizongo, an online B2B marketplace, has raised $3 million from existing investor Accel Partners as well as IDG Ventures in a Series-A round.

The Mumbai-based startup offers a marketplace for packaging materials and products for several industries such as ecommerce, restaurants and FMCG.

The company, founded last year by IIT Bombay and IIT Delhi alumni, had received a seed round of funding from Accel in October last year.

“We are going to expand our seller base, and will also use the funds to build tech capabilities and pro ducts,” said Bizongo CEO Aniket Deb.

Bizongo’s marketplace currently has over 1,000 sellers with more than 25,000 SKUs (stock keeping units).

Prayank Swaroop, principal investor at Accel who is on the board of Bizongo, said the differentiator for the startup compared to other B2B players was its vertical focus on packaging solutions.

“Packaging plays an important role right from the start of the supply chain to the end customer experience,” Swaroop said.