16/4/2025, 11:31:03 am

Cornerstone Ventures backs OfBusiness in first investment from new fund

OfBusiness, a B2B raw materials procurement platform, raised Rs 100 crore ($11.7 million) from Cornerstone Ventures as it prepares for a potential $1 billion IPO. The company, which serves SMEs with procurement and financing solutions, reported a 25% revenue growth to Rs 19,296.3 crore in FY24 and a 30% increase in net profit to Rs 603 crore.