Carbanio.com, India’s leading online B2B chemicals marketplace, today announced that it has raised US $1.3 million in a seed round led by the Quantico Group USA.
The investment reflects the company’s current market value and creates opportunities for Carbanio.com to increase its global customer base. This investment will drive business development and marketing, chemical manufacturers’ onboarding, deploying innovative technologies, and
streamlining operational processes thereby taking the company to the next level.
The global chemical industry is a US $5.5 trillion market and accounts for more than 25% of Global GDP (Deloitte, 2022 chemical industry outlook). The Indian chemical industry is currently worth US $225 billion (IBEF.ORG) and is expected to touch US $300 billion by 2025 (IBEF.ORG).
The Indian chemical market is presently unorganized and not digitized, Carbanio.com through this investment will organize and digitize the industry, thereby transforming the Indian chemical industry to achieve newer heights.
Carbanio.com chemicals marketplace has more than 9 million products sold by 40,000 businesses across India and this number has been growing exponentially. The company has been digitizing 178 chemical clusters across India and are utilizing DeepTech technologies like Artificial Intelligence (AI) and Machine Learning (ML) for marketing and business expansion. The company is also one of the fastest growing companies, scaling to 40x in the last 12 months.
It is also the only startup of its kind that has built a direct link between chemical manufacturers, suppliers, buyers, and retailers on a single platform. The company is engaged with a full stack of value propositions – discovery, comparison, online ordering, financial transparency, digital payment, end-to-end logistics, and delivering superior customer service with guaranteed quality.
Carbanio adds direct value to chemical businesses by offering up to 65% lower price than market price and also decreases the buying cycle thereby increasing business volumes and profits. It facilitates businesses across boundaries, with convenience, competitive prices and 100% assurance
Dr. Rafi S, PhD, founder, Carbanio and India’s well-known scientist turned entrepreneur envisioned 4th industrial revolution spearheaded by cutting edge technology to create google and amazon of the chemical industry. With the clear mission and vision, Carbanio became a household name for the
chemical industry and is a one-stop solution for chemical needs.
Mr. Vijay Devarakonda, MBA, co-founder, having vast experience in technology and product development led carbanio executing the vision by utilizing proprietary technology AI, ML and creation of data driven business and opportunity. Dr. Srinivas Yeldi, FCA, Ph.D., LL.B., chief financial officer, Carbanio, heads the corporate finance of this exciting business revenue model.
Quantico Group, is a US based company with seasoned and successful investors with varied backgrounds that have had several profitable ventures in the chemical and other industry verticals.
Commenting on the investment, Mr. Fazal Dasankop, Investor/Portfolio Manager, said, “Carbanio.com is one of the very few companies that has the perfect ingredient for investors. The company checked off all the boxes for a startup investment solving a major problem of sourcing chemicals using technology and scalability on a national and global basis.”
Mr. Brett Witkowski, CFP Portfolio/Asset Manager, Quantico Group commented, “Quantico group is very excited at the opportunity for an early-stage equity investment into emerging technology business with a firm belief that the 4th Industrial revolution is going to unlock the untapped potential in the chemical business.”
Mr. Manzoor Airani, CEO, Neugenlabs and Angel Investor is excited about Carbanio’s capability of solving distribution problem through its network of global manufacturers.
“We are glad that our vision has been recognized and we are thrilled to be supported by the Quantico group. The Carbanio team looks forward to achieving greater success going forward,” adds Dr. Rafi Shaik, Founder, Cabanio.com.
Carbanio.com has been recognized by the Ministry of Commerce and Industry, Government of India, and won awards for being the Best B2B marketplace of the Year by ABP in 2018 and Best startup of the year by Business Connect in 2019.