Japan's MonotaRO invests $15Mn in JV with Industrybuying.com
MonotaRO Co Ltd, Japan’s largest MRO B2B ecommerce company, has invested $15 mn in a joint venture with Emtex Engineering to grow the latter's SME (small and medium enterprises) ecommerce business in India. Emtex Engineering operates Industrybuying.com. It has two businesses — SME ecommerce and large enterprise.
Industrybuying.com now has access to MonotaRO's know-how, product portfolio, supplier network, and ecommerce expertise to develop a market leadership position in India. MonotaRO gets entry into the large and emerging India B2B ecommerce market via a well established, profitable platform, the statement added.
"Through this JV, the company expects to efficiently develop its business in the Indian market, which is expected to grow significantly in the future, by utilising the ecommerce business model that Emtex has already established in India (industrybuying.com), and based upon the knowledge that the company has obtained through developing businesses in Japan and other countries around the world," commented MonotaRO.