B2B Heavy Equipment/Parts Platform YantraLive Raises $1M in Seed Funding from GrowthStory and Other Angel Investors

YantraLive Team

India’s leading B2B platform for heavy equipment and parts, YantraLive today announced that it has raised US$1 million in a funding round from GrowthStory and other angel investors including Bigbasket’s Vipul Parekh . The startup’s existing investors also participated in the round.

YantraLive said it will use the capital raised to upgrade its technology platform and launch new product categories with the aim of improving its market penetration across India. The startup primarily caters to infrastructure companies, fleet owners, and maintenance shops spread across the country.

YantraLive was founded in April 2018 by a group of IIM and NIT alumni. Backed by serial entrepreneurs Ravi Anand Rao and Umesh Sangurmath, the founding team includes Vikram Joshi, Sumit Bhosale, Kumar Palangappa and Avinash Sangurmath. To date, the startup has served over 1,000 customers and shipped over 10,000 SKUs.

Ravi Anand Rao, co-founder of YantraLive said, “The heavy equipment market has so far been untouched by digital technologies and is ripe for disruption. YantraLive was born with this idea and with a mission to eliminate heavy equipment downtime and idle time through technological innovations. Today, we are thrilled to receive support from Vipul and GrowthStory as we prepare to scale YantraLive.

YantraLive was designed to solve the problem of information asymmetry for thousands of heavy equipment owners, many of whom are located in remote parts of India. The startup has grown its revenue 10x in the past year and is currently recording an annualized run rate of ₹60 crore (US$8.1 million) in revenue. YantraLive’s technology platform is the first of its kind in the industry and is disrupting the way heavy equipment parts, services and machinery are purchased.

K.Ganesh, partner at GrowthStory said: “YantraLive is led by the right team with deep experience in the heavy equipment market and has seen good traction over the past year, demonstrating the impending digital disruption and transformation in the industry. We are excited to join YantraLive’s vision to build the first digitally enabled heavy equipment platform.”

Vipul Parekh, co-founder of BigBasket said, “The heavy equipment industry is complex, made up of a myriad of stakeholders and requires significant domain expertise before you can create the right solution for this industry. Having known the YantraLive team since its inception, I believe that this team has the domain knowledge and technological expertise to meet the needs of customers in this industry.

India is the world’s 4th largest construction equipment market by volume and recorded a revenue of nearly US$6.5 billion in 2020.

About YantraLive

YantraLive is a B2B platform for heavy machinery equipment and parts for Infra companies; Equipment owners; and service workshops. YantraLive is redefining heavy equipment ownership by creating the industry’s first solutions for trading in used equipment, helping owners maintain their equipment by providing the right parts and services on time. YantraLive has so far served over 1,000 customers and shipped over 10,000 SKUs. The founding team is made up of serial entrepreneurs and alumni of IIMs and NITs. For more information, please visit https://www.yantralive.com/