Download PDF
IndoSup, a digital B2B procurement platform for small and medium construction businesses, announced a strategic funding round led by CCI Group promotors. While CCI Group promoters have a majority stake in the company, investors hold more than a 26 percent stake post-dilution. Other investors include the group CFO of Yatra.com, Rohan Mittal. This investment will fuel the company’s expansion across new geographic markets by bringing top brands onto its platform.
In addition to geographic expansion into cities like Kolkata, Mumbai, and Chennai, IndoSup plans to introduce white-labeled products across 5–6 SKUs by February 2025. The company is also developing credit lending solutions in collaboration with major financial institutions to better support its customers’ working capital needs.
Naresh Sharma, promotor of CCI Group, said, “IndoSup is well-positioned to capitalize on the digital transformation happening in the construction supply chain.”
Follow our WhatsApp channel
The construction sector in India is projected to account for 13 percent of the country’s GDP by 2025. Recently, Union Minister for Housing and Urban Affairs Hardeep Singh Puri said that the construction sector in India will be the third largest construction market globally. No wonder there have been several construction companies in the country, including Larsen & Toubro Ltd., Reliance Infrastructure Ltd., Macrotech Developers Pvt. Ltd. (Lodha Group), and others.
Indosup claims to collaborate with over 400+ reputable retailers, 350+ reliable distributors, 300+ renowned brands, and 50+ trusted stockists. The company adds, “We have successfully streamlined and simplified the sourcing and procurement process for leading construction material manufacturers.”
The original link to the article can be found here:
https://business.outlookindia.com/corporate/indosup-raises-funding-led-by-cci-group-promoters-naresh-sharma-and-satish-sharma
