Japan’s MonotaRO Co Ltd has invested USD 15 million (about Rs 110.5 crore) in a joint venture with Emtex Engineering to grow the latter’s SME (small and medium enterprises) e-commerce business in India.
Emtex Engineering operates Industrybuying.com. It has two businesses — SME e-commerce and large enterprise.
MonotaRO will own 51.6 per cent stake in the JV, IB monotaRO Pvt Ltd, while the rest will be held by Emtex Engineering Pvt Ltd.
“As part of the deal, Emtex has transferred its SME business into the JV, and continues to grow its large enterprise businesses independently,” a statement said.
Industrybuying.com now has access to MonotaRO’s know-how, product portfolio, supplier network and e-commerce expertise to develop market leadership position in India.
MonotaRO gets entry into the large and emerging India B2B e-commerce market via a well established, profitable platform, the statement added.
“MonotaRO’s deep e-commerce expertise and catalog of over 10 million products can propel India business to a highly profitable, IPOable growth trajectory in a very short time. So, we are excited to be partnering with them in this phase of our growth,” Industrybuying.com CEO Swati Gupta said.
Parallely, the company will continue to grow its large enterprise and other businesses independently and profitably, she added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
