The raw material procurement service has retained almost 75% of financing subsidiary Oxyzo Financial Services following its series A round.

Oxyzo Financial Services, the smart financing spinoff of India-headquartered material procurement and financing services provider OfBusiness, secured $200m in series A funding today.

Venture capital firms Norwest Venture Partners and Matrix Partners India co-led the round with alternative asset manager Alpha Wave, investment firm Tiger Global Management and impact investment vehicle Creation Investments.

Founded in 2015, OfBusiness operates an online platform which allows industrial and manufacturing businesses to source raw materials, using artificial intelligence to help them procure suitable supplies…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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