Ofbusiness

The deal, which is still in process, is expected to strengthen OfBusiness’s presence in the apparel manufacturing space ahead of its planned $1 billion IPO. The investment follows the company’s recent acquisition of Kerala-based Elixir Extracts.

OfBusiness launches AI-powered discovery platform Nexizo for SMEs

OfBusiness had previously launched a similar platform BidAssist. However, the team clarified that unlike BidAssist, which focuses on government tenders, Nexizo targets larger private-sector businesses, providing more advanced features suited to their complex needs.

IPO-bound OfBusiness co-founder Nitin Jain to start AI venture

Jain, however, told Moneycontrol that he is “very much part of OfBusiness, (and is) just exploring options" with OfBusiness as a partner. "I’m still a proud OfBian.”

OfBusiness net profit grows 30 percent to Rs 604 crore in FY24

B2B e-commerce unicorn saw its revenue jump 25 percent from Rs 15,658 crore in FY23 to Rs 19,528 in FY24

Fintech unicorn Oxyzo's FY24 revenue crosses Rs 900 cr, PAT at Rs 290 cr

During FY24, Oxyzo's total expenses went up above 66 percent to Rs 514 crore

Softbank-backed OfBusiness PAT zooms 130% to Rs 463 crore in FY23

The company’s jump in revenue and PAT comes mainly on the back of its expansion into the marketplace with more value-added-products as well as its penetration into global markets during the last financial year.

Fintech unicorn Oxyzo reports 185% jump in PAT at Rs 197 crore in FY23

Oxyzo's total income went up by nearly 80 per cent to Rs 562 crore during FY23 as against Rs 313 crore in FY22

Only six of India's 51 unicorns that have filed results were profitable in FY22

OfBusiness and Infra.Market were the only two unicorns having a profit of more than Rs 100 crore for FY22

SoftBank-backed OfBusiness in talks for a secondary funding round at valuation of $8-9 billion ahead of IPO

OfBusiness is raising $50-$100 million from a slew of family offices, who will buy shares from some of the business-to-business (B2B) commerce and lending platform's investors

SoftBank-backed OfBusiness defers IPO plans by 3 months on weak market cues

CEO Asish Mohapatra also said the last round that OfBusiness raised in December 2021 was the company’s last private market fundraise

Bits To Billions | Meet India's first husband-wife duo who have a unicorn each: Mohapatra & Kalra

Asish Mohapatra and Ruchi Kalra, alums of IIT and McKinsey, created history by becoming India's first husband and wife team to build their startups into unicorns - OfBusiness and Oxyzo. While Mohapatra is the CEO of OfBusiness, Kalra is the CEO of Oxyzo. What's more - Both their startups are profitable. But what do their startups do? How did they go from bits to billions? When will their companies go IPO? Watch them in conversation on Bits to Billions.

Startups should prioritise profitability amid funding winter: Unicorn founders

Amagi Media Labs, Xpressbees, and OfBusiness are three of the country’s 23 profitable unicorns. India welcomed its 100th unicorn in May, and the tally currently stands at 102.

This couple is India's first to build their own unicorns each

Ruchi Kalra, 38, and Asish Mohapatra, 41, are alums of the Indian Institute of Technology and met while working at McKinsey & Co. Both startups are profitable, an unusual feat for young growth companies.

Oxyzo Financial Services raises $200 million Series A at a valuation of $1 billion, enters unicorn club

Kalra becomes one of the rare Indian female founders of a profitable fintech unicorn and, together with husband Asish Mohapatra, makes a rare couple behind the making of two unicorns

Startups in India: Meet these women unicorn founders

Startups in India: Women unicorn founders are few and far between but the overall tribe is increasing.

Weekly Funding Wrap: Razorpay's valuation vaults to $7.5 billion, Zepto raises $100 million

A total of $1.25 billion was raised by startups in the week of December 20 to 24

The more unsexy a business, the more profitable it is: OfBusiness' Asish Mohapatra's motto

Why is an industrial goods and lending firm one of India's hottest startups today? Why does OfBusiness hire only freshers, that too from outside top colleges? And when the lines between work and life are blurred, how do you avoid a toxic work culture? Asish Mohapatra, co-founder and CEO of OfBusiness breaks down his work and life's philosophy, with unusual candor and quips in a detailed interview.