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Monday, October 18, 2021

B2B e-commerce platform EI Industrial attracts seed funding from Cocoon Capital, Beenext

EI Industrial, a Vietnamese industry-focused B2B e-commerce platform, has raised a US$670,000 seed financing led by Cocoon Capital, with participation from Beenext.

The e-commerce agency will channel the funding to construct a “faster and more user-friendly” expertise platform. Besides, EI Industrial intends to increase its gross sales, advertising and marketing, and expertise groups to drive fast progress.

“We founded EI Industrial with the target to help develop Vietnam’s core industry through technology,” stated co-founder and CEO An Phi Ho. “Vietnam has been one of the fastest-growing economies in the world in recent years, and small and medium-sized private businesses are the backbone of the economy.”

Also learn: Are B2B marketplaces lastly getting into their growth time in Asia?

Launched in 2020, EI Industrial supplies a SaaS e-procurement and warehouse administration system (WMS) to assist producers and building companies handle their buying processes. It presently focuses on the MRO (upkeep, restore and operation) and M&E (mechanical and electrical) provide sectors.

The tech firm gives buying officers quite a lot of distributors and offers out there on a free-to-use platform, permitting them to digitise and maximise buyer outreach throughout Vietnam. 

The startup additionally ensures an applicable supply and fee route for each events.

“EI Industrial strives to help businesses and vendors improve their productivity and profit margins,” Ho added.

The platform counts Esquel Group, Heineken, Toshiba, Olam, Aqua, Oishi, Wahl, and Central Group amongst its 500 purchasers in Vietnam. To serve the mounting demand, it additionally companions with greater than 300 retailers, together with Schneider Electric, Bosch, Honeywell, and 3M.

As per a press assertion, El Industrial is on the best way to simply accept and open lots of of on-line shops for brand spanking new sellers in 20 current classes, aiming to realize over US$1 million in stock-keeping models by the top of 2021.

According to Vietnam’s Ministry of Planning and Investment, SMEs make up 98 per cent of all companies, accounting for 45 per cent of the nation’s GDP and 63 per cent of employment. 

Ready to satisfy new startups to put money into? We have greater than lots of of startups prepared to attach with potential traders on our platform. Create or declare your Investor profile in the present day and activate e27 Connect to obtain requests and fundraising info from them.

Image Credit: EI Industrial

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