IndoSup, a leading B2B digital procurement platform for construction SMEs in India, has announced a successful financing round led by the promoters of CCI Group.

Despite the specific financial details, the investment secures a majority stake for the promoters of CCI Group , while other investors own more than 26 percent after dilution. It is worth noting that Rohan Mittal, Group CFO of Yatra.com, is among the investors.

This financing will boost IndoSup's expansion into new Indian cities such as Kolkata, Mumbai and Chennai. The company also plans to offer white label products in 5-6 SKUs by February 2025, to meet specific customer needs.

In addition, IndoSup is developing credit lending solutions in collaboration with major financial institutions to process working capital. . Challenges faced by their clients.

“We are excited to partner with the promoters of CCI Group and an industry veteran like Rohan Mittal as we enter the next phase of growth. Their strategic guidance and capital will be invaluable,” said Ashmit Sharma, Founder, IndoSup. This will be invaluable as we scale our operations, enhance our technology platform and deliver new solutions to better serve the construction ecosystem.”

IndoSup aims to achieve the following goals: To revolutionize the $150 billion Indian construction market; Competing with well-known players such as infra.market, Moglix, Zetwerk and Of Business.

Through its platform, IndoSup offers a seamless digital experience to contractors, builders and dealers as they get access to a wide range of building materials, equipment and services from suppliers and brands Reliable, revolutionizing the purchasing process.

“IndoSup's innovative model is revolutionizing a huge but traditionally fragmented industry. We are impressed by the team's vision, execution capabilities and tremendous market opportunities. “IndoSup is well positioned to capitalize on the digital transformation taking place in the construction supply chain,” said Naresh Sharma, promoter, CCI Group.

The company said it is revolutionizing procurement for construction contractors, builders and tradespeople by providing them with a seamless digital experience. With access to a wide range of construction materials, equipment and services from trusted suppliers and brands.

Commenting on the development, Rohan Mittal, Group CFO, Yatra.com said, “IndoSup provides seamlessness to construction companies across India. “We look forward to supporting its thriving growth as the company expands into new markets and delivers problem-solving offerings tailored to the unique needs of the industry.”

India’s construction sector is expected to contribute 13 percent to the GDP. By 2025, IndoSup's technology-driven procurement approach will provide significant growth opportunity in this dynamic market. The company's focus on simplifying purchasing processes and providing credit solutions makes it a major player in the Indian construction industry.