NewsVoir
Gurugram (Haryana) [India], February 1: OfBusiness (OFB) is India's leading and most efficient B2B commerce platform, specializing in the metals, chemicals, Agri-products, and apparel businesses.
OfBusiness engaged with over 4000 transporters from across India, for small and big trucks, that travelled 65 million kilometers, delivering about 7 million tonnes of material. The materials were delivered across India and to about 15 foreign countries, including US, Australia, UK, Dubai, France, Germany, Brazil, Malaysia and Vietnam - the Company said.
In the process, the Company facilitated indirect jobs for more than 350,000 people, in addition to the labours engaged in loading and unloading of materials, the company said.
"Connectivity is one of the key functions at OfBusiness being a B2B commerce platform. Since our businesses are spread across metals, chemicals, Agri-products and apparel, it has always been our priority to ensure safe and timely delivery of all our consignments. In the year 2024 we delivered 170,000 consignments in 26 States & 7 UTs covering over 500 cities to SMEs. Through our AI enabled robust network, we are also exporting our material to about 15 countries. To ensure safe delivery of all consignment, we have an AI-enabled monitoring system that does real-time tracking of all consignments, and such live updates are shared with SMEs we are catering to. We are also able to reach a larger base of transporters across India through our AI-enabled, transparent, bidding platform. In the process, we do engage with large transporters but extend preferential opportunities to small transporters for their sustainable livelihood", said Vikram Singh, Business Head - OfBusiness.
In about 10 years, OfBusiness has created two unicorns, the other being - Oxyzo, established in 2016 - the financial services arm of OfBusiness, which supports over 2 million SMEs with working capital. The Company's AI enabled platform, Nexizo.AI, processes 25 million data points annually for more than 50 million Government Tenders and Documents - helping SMEs in business growth.
OfBusiness has recently announced its expansion of the steel business, infusing about Rs. 3000 crores in the next three years. The company supplies steel to companies such as L&T, Adani, J Kumar, Dilip Buildcon, Ashoka Buildcon. OfBusiness also plans to get into new categories such as pre-painted galvanized iron (PPGI) adding onto thermo-mechanically treated (TMT) bars and structures.
The expansion of business would also enhance engagement with transporters for additional trucks and create more employment opportunities.
OfBusiness is USD 2.5 billion in revenues.
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