Cornerstone Ventures invests Rs 100 crore in OfBusiness, a B2B commerce and supply chain platform, marking its first investment from a new USD 200 million fund.
This funding marks the VC firm’s first investment from its USD 200 million new fund, which was launched in April 2024.
“We are extremely bullish on India’s SME sector, and we believe OfBusiness is best positioned to enable its growth through its integrated digital commerce and supply chain financing platform.
“With its strong execution and proven ability to organise the highly fragmented SME trade market by aggregating both demand and supply, OfBusiness is uniquely positioned to unlock significant value across multiple industrial value chains,” said Vatsal Bavishi, Partner, Cornerstone Ventures Fund.
OfBusiness is a tech-driven B2B platform that provides raw material procurement and credit solutions to small and medium enterprises (SMEs) across India.
Its marketplace enables SMEs to discover suppliers, access transparent pricing, transact seamlessly, and tap into tailored credit products.
With a network of over 45,000 suppliers and 1.3 million SMEs, it focuses on key sectors like steel, chemicals, and textiles.
