About the founders: Three IIT grads, Aniket Deb, Sachin Agrawal, and Ankit Tomar, established Bizongo in 2015.
About the venture: Bizongo creates a technologically advanced B2B e-commerce and supply chain platform for custom packaging, clothing, and other products. It transforms the fragmented, disorganised, but distinctive and pervasive B2B segment of customised goods digitally. The company has a network of approximately 1500 carefully selected producers in these areas and concentrates on packaging, textiles, garments, and other contract manufacturing goods as its product portfolio.
A vast variety of products from various micro, little, and medium-sized enterprises (MSMEs) are used in Ananda Dairy, one of India’s top dairy and food manufacturing businesses.
The corporation purchases goods through a vast supply chain structure, including primary, secondary, and tertiary packaging (flexi pouches, boxes, and cartons) as well as agri-input products like sugar and wheat.
Businesses like Ananda Dairy relied on offline dealers for many years. Ananda Dairy currently employs B2B platform Bizongo’s products to streamline its operations. The Mumbai-based startup claims to use AI to assist businesses create seamless lines of communication with its MSME partners.
When Sachin, Aniket Deb, and Ankit Tomar started Bizongo in 2015, they set out to improve the system by bringing together buyers and sellers in the packaging sector. The team quickly discovered that several industries still used out-of-date supply chain models. Then, it began to concentrate on modernising these workflows.
According to Bizongo, it has created a web-based tool that will revolutionise this strategy. The company’s application and vendor network assist businesses in centralising their supply chain activities.
Enterprises can easily submit their procurement requests through the Bizongo application. With the use of technology, the programme gives users access to a carefully chosen list of vendors and facilitates online pricing discussions. On the screens of the enterprise and MSME owners, the full process—including order placement and invoicing—can be simply watched.
Lockdowns brought on by the pandemic made India’s supply chains more inefficient. Since then, B2B firms like Ofbusiness and Zetwerk have developed a variety of solutions to aid MSMEs in interacting with customers and transporting their goods across the nation.
Bizongo collaborates with almost 8500 MSMEs in India in addition to 300 big corporations like Trident Group, Apollo Microsystems, and JK. According to Bizongo, their technology identifies possible hazards and delivers a confidence score of MSMEs by collecting over 50 live data points and comparing them to millions of previous B2B transactions, ensuring preventive measures and efficient supply chain operations for businesses.
By utilising this data, Bizongo has also made embedded financing available through partner banks and NBFCs who can assess SMEs based on comprehensive transactional and behavioural insights, enabling them to make better financing decisions on SMEs and transforming embedded financing into a powerful instrument for SME growth.
Whats next?: Bizongo then intends to release a mobile app for MSME sellers that is driven by AI. The software would have an AI virtual assistant that would offer wise suggestions for buying, billing, collecting, procuring raw materials, credit rating, compliance, and operational efficacy. Sachin hasn’t specified how much money the company intends to raise. He claims that Bozingo will use the new funding to improve its AI skills.
The current net worth of the company is Rs: 5,000 crores.
The simple way to get yourself a new business idea is to look around and solve the problems of people.
This is what Bizongo did and it is successful!