YantraLive raises $1 million from GrowthStory, others

YantraLive, a B2B platform for heavy tools and elements, on Thursday stated it has raised USD 1 million (over Rs 7 crore) in a seed spherical from GrowthStory and different angel buyers, together with Bigbasket co-founder Vipul Parekh.

The beginning-up, which began in 2018, is backed by serial entrepreneurs Ravi Anand Rao and Umesh Sangurmath. YantraLive stated its current buyers additionally participated within the funding spherical.

The corporate will utilise the capital raised to improve its know-how platform, launch new product classes because it goals to reinforce its market penetration throughout India, stated YantraLive, which primarily caters to infrastructure companies, fleet homeowners and servicing workshops.

Until date, it has serviced over 1,000 prospects and delivered greater than 10,000 SKUs. Its revenues have grown by 10 instances within the final 12 months and is at the moment registering an annualised run fee of Rs 60 crore, the corporate stated.

“The heavy tools market has hitherto been untouched by digital applied sciences and is ripe for disruption. YantraLive was born with this perception, and with a mission to remove downtime and idle time of heavy tools by technology-led improvements,” YantraLive Co-founder Ravi Anand Rao stated.

On its funding within the platform, GrowthStory Accomplice Ok Ganesh stated, “YantraLive is led by the proper workforce with in-depth expertise within the heavy tools market and has seen good traction within the final 12 months demonstrating the approaching digital disruption and transformation within the sector.” Stating that the heavy tools trade is advanced, with myriad stakeholders and requiring vital area experience earlier than one can create the proper resolution for this trade, BigBasket Co-Founder Vipul Parekh stated, “Figuring out the YantraLive workforce since inception, I imagine that this workforce has the area data and know-how experience to deal with the wants of consumers on this trade.”

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