New
Delhi, January 14, 2009: As a perfect example of success
of Indian SMEs in these turbulent times, IndiaMART.com, India’s
leading online B2B marketplace receives funding from world's
leading Venture Capital firm, Intel Capital. The company which
connects Indian suppliers with domestic and international buyers
through Internet, Print Media and Trade Shows Participation, is
planning to further consolidate its leadership position in the
market.
Intel Capital, Intel Corporation's global investment
organization, today announced its intention to invest US$23
million in three Indian companies. The funding will come from the
$250 million Intel Capital India Technology fund, established in
December 2005. This fund invests in Indian technology companies to
help stimulate local technological innovation and the continued
growth of India's Information Technology industry.
According to Dinesh Agarwal, Founder & CEO, IndiaMART.com,
the company plans to grow its market share by launching marketing
initiatives, expanding service offerings, extending reach into new
markets and geographies, and evaluating potential strategic
opportunities. “It is a defining moment for IndiaMART.com and
its team as the investment has re-strengthened the confidence that
the world poses in our business model,” Dinesh further added.
“This year marks ten years of successful Intel Capital
investments in India, underlining our commitment to invest in the
country for the long term,” said Sudheer Kuppam, Intel
Capital managing director for India, Japan, Australia and
South-East Asia. “Our investment in IndiaMART.com is driven
by its successful business model that connects millions of small
and medium enterprises (SME) and the opportunity it offers in
future. IndiaMART.com’s management focus on B2B and its
uninterrupted profitable growth since inception also impressed us,”
Kuppam concluded.
This investment would certainly raise the morale of Indian SMEs
as IndiaMART is not only considered as an SME platform but also as
a messiah for taking business global.
About IndiaMART.com
IndiaMART.com is India's largest online B2B marketplace
connecting global buyers with suppliers through business
directories, online product catalogs, buy-sell offers, industry
specific marketplaces, printed media and trade shows
participation.
Founded in 1996, the company has a presence in over 100 cities
pan-India. With approximately 1000 employees, IndiaMART.com offers
an extensive range of value-added products and services to over
500,000 members and over 5 million global buyers across industries
and verticals.
IndiaMART.com has won numerous awards over the years including
Red Herring 100 Asia & Emerging India and the company has been
widely covered by media such as CNBC, BBC, BusinessMoney, CNN,
Businessworld, Economic Times, Financial Express, etc.
For more information, please visit :
www.indiamart.com/press-section/
About Intel Capital
Intel Capital, Intel's global investment organization makes
equity investments in innovative technology start-ups and
companies worldwide. Intel Capital invests in a broad range of
companies offering hardware, software, and services targeting
enterprise, home, mobility, health, consumer Internet,
semiconductor manufacturing and cleantech. Since 1991, Intel
Capital has invested more than US$7.5 billion in approximately
1,000 companies in 45 countries. Notable exits in India include
Rediff, NIIT, Sasken Technlogies, Indiainfoline, Sharekhan and
Nipuna.
For more information on Intel Capital and its differentiated
advantages, please visit :
www.intelcapital.com.
Media Contacts:-
IndiaMART.com
Arun
Tyagi
Marketing & PR
Mobile: +91-9711003832
Telephone: +91-120-3911000
Email: aruntyagi@indiamart.com
|
Intel
Capital
Saranya
Rustagi
Public Relations Manager - South Asia
Mobile: +91-98338 23474
Telephone: +91-22-67137000
Email: saranya.rustagi@intel.com
|
