About OfBusiness
OfBusiness is a company based in Ahmedabad (India) founded in 2015 by Jaivee Joseph, Vasant Sridhar, Ruchi Kalra, Bhuvan Gupta, Nitin Jain, and Asish Mohapatra.. OfBusiness has raised $776.04 million across 15 funding rounds from investors including Kotak Mahindra Bank, SoftBank Group and Marshall Wace. The company has 940 employees as of September 26, 2025. OfBusiness has completed 4 acquisitions, including Elixir Extracts, Indian Designs Exports and Koeleman. OfBusiness offers products and services including Raw Materials Procurement Platform, Credit Services, and Price and News Service. OfBusiness operates in a competitive market with competitors including NowPurchase, Power2SME, JSW One MSME, Ximkart and Tradohub, among others.
- Headquarter Ahmedabad, India
- Employees 940 as on 26 Sep, 2025
- Founders Jaivee Joseph, Vasant Sridhar, Ruchi Kalra, Bhuvan Gupta, Nitin Jain, Asish Mohapatra
- Stage Unicorn
-
Sectors
Real Estate & ConstructionIndustrial Goods & Manufacturing Retail
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Ofb Tech Private Limited
- Date of Incorporation 24 Aug, 2015
- Jurisdiction Ahmadabad City, Gujarat, India
-
Annual Revenue
$1.88 B (USD)115.41as on Mar 31, 2023
-
Net Profit
$55.7 M (USD)130.34as on Mar 31, 2023
-
EBITDA
$80.81 M (USD)110.67as on Mar 31, 2023
-
Total Equity Funding
$776.04 M (USD)
in 15 rounds
-
Latest Funding Round
$11.7 M (USD), Series G
Apr 16, 2025
-
Investors
Kotak Mahindra Bank
& 45 more
-
Employee Count
940
as on Sep 26, 2025
-
Investments & Acquisitions
Elixir Extracts
& 3 more
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of OfBusiness
OfBusiness offers a comprehensive portfolio of products and services, including Raw Materials Procurement Platform, Credit Services, and Price and News Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Online platform for buying and selling raw materials with pricing tools
Provides credit access for manufacturers and suppliers
Delivers live prices and news for raw materials markets
Unlock access to complete
Funding Insights of OfBusiness
OfBusiness has successfully raised a total of $776.04M across 15 strategic funding rounds. The most recent funding activity was a Series G round of $11.7 million completed in April 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 15
- Last Round Series G — $11.7M
-
First Round
First Round
(26 Sep 2015)
- Investors Count 46
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2025 | Amount | Series G - OfBusiness | Valuation | Cornerstone Venture Partners Fund |
|
| Oct, 2024 | Amount | Angel Round - OfBusiness | Valuation | Charu Leekha | |
| Apr, 2024 | Amount | Series G - OfBusiness | Valuation | VR Sikka Consulting |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in OfBusiness
OfBusiness has secured backing from 46 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Kotak Mahindra Bank, SoftBank Group and Marshall Wace. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Venture capital fund investing in B2B technologies and enterprise solutions in India.
|
Founded Year | Domain | Location | |
|
Venture capital firm focused on growth-stage companies
|
Founded Year | Domain | Location | |
|
Venture and private equity investments are managed with global diversification.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by OfBusiness
OfBusiness has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Elixir Extracts, Indian Designs Exports and Koeleman. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Steel products are manufactured by SMW ISPAT in Wardha, India.
|
2004 | ||||
|
High-quality pickled gherkins and cucumbers are exported worldwide.
|
1995 | ||||
|
Manufactures and exports readymade garments and home furnishings sustainably.
|
1993 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
OVO is recognized as a smart digital payment application.
|
2017 | ||||
|
Bionic investment advisor platform
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - OfBusiness
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ofbusiness Comparisons
Competitors of OfBusiness
OfBusiness operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as NowPurchase, Power2SME, JSW One MSME, Ximkart and Tradohub, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Tech-interfaced procurement marketplace is operated for metal manufacturers.
|
|
| domain | founded_year | HQ Location |
Provider of a B2B digital marketplace offering multi-category industrial products
|
|
| domain | founded_year | HQ Location |
Retailer of various steel products including mild, stainless, and structural
|
|
| domain | founded_year | HQ Location |
An online B2B cross-border trade marketplace offering industrial raw materials
|
|
| domain | founded_year | HQ Location |
Operates an online group buying platform for raw materials tailored to MSMEs.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Ofbusiness
Frequently Asked Questions about OfBusiness
When was OfBusiness founded?
OfBusiness was founded in 2015.
Where is OfBusiness located?
OfBusiness is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Who is the current CEO of OfBusiness?
Asish Mohapatra is the current CEO of OfBusiness. They have also founded this company.
Is OfBusiness a funded company?
OfBusiness is a funded company, having raised a total of $776.04M across 15 funding rounds to date. The company's 1st funding round was a Series G of $707.53K, raised on Sep 26, 2015.
How many employees does OfBusiness have?
As of Sep 26, 2025, the latest employee count at OfBusiness is 940.
What is the annual revenue of OfBusiness?
Annual revenue of OfBusiness is $1.88B as on Mar 31, 2023.
What does OfBusiness do?
OfBusiness was founded in 2015 in Ahmedabad, India, as a B2B platform focused on raw material procurement and credit access for small and medium enterprises. Smart procurement solutions and raw material sourcing are offered, alongside structured financing options for manufacturers and contractors. Tools for order management and price discovery are integrated into the platform to support operations in the industrial sector across India.
Who are the top competitors of OfBusiness?
OfBusiness's top competitors include NowPurchase, JSW One MSME and Power2SME.
What products or services does OfBusiness offer?
OfBusiness offers Raw Materials Procurement Platform, Credit Services, and Price and News Service.
How many acquisitions has OfBusiness made?
OfBusiness has made 4 acquisitions, including Elixir Extracts, Indian Designs Exports, and Koeleman.
Who are OfBusiness's investors?
OfBusiness has 46 investors. Key investors include Kotak Mahindra Bank, SoftBank Group, Marshall Wace, Norwest Venture Partners, and Zodius.
What is OfBusiness's valuation?
The valuation of OfBusiness is $2.84B as of Oct 2024.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.