B2B procurement platform OfBusiness gets Rs.100-Cr from Cornerstone Ventures

Gurugram-headquartered, B2B (business-to-business) industrial goods and services procurement platform OfBusiness has raised INR 100 crore (about USD 11.7 million), led by Cornerstone Ventures. OfBusiness is set to launch its initial public offering (IPO) in the second half of 2025.Cornerstone made this investment through its USD 200 million second fund. The proceeds will be used to drive digital adoption and financing access for small and medium enterprises (SMEs).Co-founded in 2016 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta, and Nitin Jain, OfBusiness provides raw material procurement and financing solutions to SMEs operating in the manufacturing and infrastructure sectors through its platform.