Latest News | B2B Platform 13SQFT.com Raises USD 1 Mn

Mumbai, Aug 24 (PTI) Digital B2B platform for warehouses, logistics and industrial sector, 13SQFT.com on Thursday said it has raised USD 1 million in a pre-series round led by Inflection Point Ventures.

The funds will be utilized to expand the commercial and technical teams and bolster the platform's technology, it said.

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Announcing the fresh fundraise, the company said the demand for both general and specialized warehousing infrastructure in India is experiencing a robust growth trajectory, with a Compound Annual Growth Rate (CAGR) of 19 per cent.

Simultaneously, the B2B e-commerce sector is on the brink of significant expansion, with projections indicating a staggering increase from USD 20 billion in CY2022 to USD 125 billion in CY27, translating to an impressive CAGR of 44 per cent, the company claimed.

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These promising figures underscore the evolving landscape of warehousing and commerce in the country, reflecting a dynamic and rapidly evolving market, it said.

"We are the go-to for companies needing land, warehouses, and facility setups in logistics, retail, and more. Our platform is buzzing with companies listing their spaces and products, attracting buyers and investors,” said Alok Bansal, Founder of 13SQFT.com.

Founded in 2021 by Alok Bansal and Payal Chaudhary, the platform caters to warehousing, logistics, and cold chain sectors and their diverse needs including space, infrastructure, automation, and technology.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)