Tech startup Bulk MRO has raised Rs 25 crore in debt funding round led by Stride Ventures, a venture debt providing firm. Bulk MRO is a technology platform that provides for the supply chain procurement needs of its customers and suppliers across the world.
Gaurang Shah, co-founder of Bulk MRO said in a statement, “Bulk MRO is growing exponentially in a market where the goal posts are constantly shifting. We need a partner that can adapt to the constantly changing landscape and provide financial solutions that will help us service our customers better. Stride Ventures is a very nimble partner that brings to the table a tremendous network.”
The startup serves corporate customers that require MRO (maintenance, repair and operations) products in bulk. It presently has over 5,000 brands and 1.5 million products on its platform. The five-year old firm also has a fintech platform called Bulk Udhaar which provides supply chain financing solutions to its customers and suppliers.
Bulk MRO not only serves Indian companies but also has a strong presence in the US and caters to the needs of Fortune 500 companies, government agencies and healthcare networks. The company adapted itself in the times of crisis and started to provide a range of medical products like masks, gowns, hazmat suits and sanitizers among other medical equipment.
“Even in tumultuous times, Bulk MRO has done a phenomenal job by not only swiftly acting and adapting to the situation at hand, but also by contributing towards fighting the pandemic. The company addresses a simple yet rampant problem faced by businesses in India and they’re tapping into a huge opportunity,” Ishpreet Gandhi, managing partner, Stride Ventures commented.