[Funding alert] ExMyB raises seed round led by Campus Fund
, a B2B services marketplace startup for businesses has raised an undisclosed round of funding from Campus Fund and other angel investors including Bharat Shah, a founding member of HDFC Bank.
The startup plans to use the fresh funds raised to enhance its platform, onboard higher number of quality vendors and expand customer base. ExMyB was founded in 2018 by Nishant Behl and Rohan Raj Barua, who are alumni of VIT, Vellore.
The key investor into this startup is Campus Fund, a fund dedicated to support entrepreneurs.
ExMyB has created a managed marketplace where service buyers and providers can discover each other, and can act on multiple decision points like detailed reviews, project specifics, past clients, fee ranges etc.
The machine learning-based matching and proprietary search algorithm of ExMyB enables to curate specific recommendations and provide them to service buyers at no cost. The startup claims that it has facilitated transactions worth over Rs 6 crore with some leading corporates as its clients. It has over 700 vendors on board.
Richa Bajpai, Founder, Campus Fund said, “ExMyB provides an end-to-end tech platform – right from providing curated and verified vendor recommendations to contracting, facilitating the transaction and project management. It acts as a trusted source for business enabling them to contract services intelligently at no cost to the service buyer.”
According to Richa, India is home to more than 50 million small and medium businesses but face challenges in onboarding to a digital strategy which includes aspects like having a website, social media presence and technology to manage their operations.
“COVID-19 triggered the need for a digital presence now more than ever,” she said, "and ExMyB provides these services."
This startups allows SMBs for cost effective searches online and have more targeted business responses.
“ExMyB founders have a deep understanding of this space and the challenges it faces. They are focused on execution to build a sustainable business,” said, Gulshan Dhanani – Partner, Campus Fund.