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OfBusiness valuation, funding and investors

OfBusiness works in raw materials procurement and distribution, based in Ahmedabad, India. Founded in 2015, it has about 1,170 employees.

Chemicals Growth Equity
VALUATION · TODAY
$179M −11% after Growth
Range $54.6M – $307M · Grade C
TODAY
+12 MO
$2.00B
$4.00B
$6.00B
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
Series C $29.0M
Series D $35.0M
Series E $160M
Series F $200M
Growth $11.7M
ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then
HEADCOUNT · TODAY1,155 employees
+5%6m growth
+6%1y growth
−11%2y growth
500
1,000
1,500
Data from Jan 2021
TODAY
Predicted in 1 yr $160M −11% vs today
Predicted next raise $13.0M if a round comes
Winding-down probability 55%
Last round
Growth · $11.7M · Apr 2025
Valuation at last round
$113M · implied
Headcount
1,155 · flat
Grade
C
Founded
2015
How VCMC values companies →

OfBusiness valuation today

VCMC values OfBusiness at $179M today, with a range of $54.6M to $307M and a grade of C. The valuation starts from its last funding round, a growth round in Apr 2025.

Valuation by date (147 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

OfBusiness: valuation by date, as the model would have shown it on each date
DateValuationRangePredicted in 1 yrPhaseHeadcountTrendGradeWinding-down probability
1 Jan 2015$2.22M$0.81M – $6.09M$2.32M (+5%)before first round–unknownD0%
1 Feb 2015$2.23M$0.81M – $6.11M$2.33M (+5%)before first round–unknownD0%
1 Mar 2015$2.23M$0.81M – $6.14M$2.34M (+5%)before first round–unknownD0%
1 Apr 2015$2.24M$0.82M – $6.16M$2.35M (+5%)before first round–unknownD0%
1 May 2015$2.25M$0.82M – $6.18M$2.36M (+5%)before first round–unknownD0%
1 Jun 2015$2.26M$0.82M – $6.21M$2.37M (+5%)before first round–unknownD0%
1 Jul 2015$2.27M$0.83M – $6.23M$2.38M (+5%)before first round–unknownD0%
1 Aug 2015$2.28M$0.83M – $6.26M$2.44M (+7%)before first round–unknownD0%
1 Sep 2015$2.29M$0.83M – $6.28M$2.51M (+10%)before first round–unknownD0%
1 Oct 2015$2.30M$0.84M – $6.31M$2.57M (+12%)before first round–unknownD0%
1 Nov 2015$2.30M$0.84M – $6.33M$2.64M (+15%)before first round–unknownD0%
1 Dec 2015$2.31M$0.84M – $6.36M$2.71M (+17%)before first round–unknownD0%
1 Jan 2016$2.32M$0.85M – $6.38M$2.78M (+20%)before first round–unknownD0%
1 Feb 2016$2.33M$0.85M – $6.41M$2.86M (+23%)before first round–unknownD0%
1 Mar 2016$2.34M$0.85M – $6.43M$2.93M (+25%)before first round–unknownD0%
1 Apr 2016$2.35M$0.86M – $6.46M$3.01M (+28%)before first round–unknownD0%
1 May 2016$2.36M$0.86M – $6.48M$3.09M (+31%)before first round–unknownD0%
1 Jun 2016$2.37M$0.86M – $6.51M$3.18M (+34%)before first round–unknownD0%
1 Jul 2016$2.38M$0.87M – $6.53M$3.26M (+37%)before first round–unknownD0%
1 Aug 2016$2.44M$0.89M – $6.71M$3.35M (+37%)before first round–unknownD0%
1 Sep 2016$2.51M$0.91M – $6.89M$3.44M (+37%)before first round–unknownD0%
1 Oct 2016$2.57M$0.94M – $7.07M$3.53M (+37%)before first round–unknownD0%
1 Nov 2016$2.64M$0.96M – $7.26M$3.62M (+37%)before first round–unknownD0%
1 Dec 2016$2.71M$0.99M – $7.45M$3.72M (+37%)before first round–unknownD0%
1 Jan 2017$2.78M$1.01M – $7.65M$3.82M (+37%)before first round–unknownD0%
1 Feb 2017$2.86M$1.04M – $7.86M$3.92M (+37%)before first round–unknownD0%
1 Mar 2017$2.93M$1.07M – $8.05M$4.02M (+37%)before first round–unknownD0%
1 Apr 2017$3.01M$1.10M – $8.27M$4.13M (+37%)before first round–unknownD0%
1 May 2017$3.09M$1.12M – $8.48M$4.23M (+37%)before first round–unknownD0%
1 Jun 2017$3.17M$1.15M – $8.71M$4.35M (+37%)before first round–unknownD0%
1 Jul 2017$3.26M$1.19M – $8.94M$4.46M (+37%)before first round–unknownD0%
1 Aug 2017$3.34M$1.22M – $9.19M$4.58M (+37%)before first round–unknownD0%
1 Sep 2017$3.43M$1.25M – $9.44M$4.71M (+37%)before first round–unknownD0%
1 Oct 2017$3.53M$1.28M – $9.68M$4.83M (+37%)before first round–unknownD0%
1 Nov 2017$3.62M$1.32M – $9.95M$4.96M (+37%)before first round–unknownD0%
1 Dec 2017$3.72M$1.35M – $10.2M$5.09M (+37%)before first round–unknownD0%
1 Jan 2018$3.82M$1.39M – $10.5M$5.23M (+37%)before first round–unknownD0%
1 Feb 2018$3.92M$1.43M – $10.8M$5.38M (+37%)before first round–unknownD0%
1 Mar 2018$4.02M$1.46M – $11.0M$5.51M (+37%)before first round–unknownD0%
1 Apr 2018$4.13M$1.50M – $11.3M$5.66M (+37%)before first round–unknownD0%
1 May 2018$4.23M$1.54M – $11.6M$5.81M (+37%)before first round–unknownD0%
1 Jun 2018$4.35M$1.58M – $11.9M$5.96M (+37%)before first round–unknownD0%
1 Jul 2018$4.46M$1.62M – $12.3M$6.12M (+37%)before first round–unknownD0%
19 Jul 2018$229M$151M – $454M$298M (+30%)after a round–unknownB0%
1 Aug 2018$232M$151M – $454M$298M (+29%)after a round–unknownB0%
1 Sep 2018$237M$151M – $454M$298M (+26%)after a round–unknownB0%
1 Oct 2018$242M$151M – $454M$298M (+23%)after a round–unknownB0%
1 Nov 2018$247M$151M – $454M$298M (+20%)after a round–unknownB0%
1 Dec 2018$253M$151M – $454M$298M (+18%)after a round–unknownB0%
1 Jan 2019$258M$151M – $454M$298M (+15%)after a round–unknownB0%
1 Feb 2019$264M$151M – $454M$298M (+13%)after a round–unknownB0%
1 Mar 2019$270M$151M – $454M$298M (+11%)after a round–unknownB0%
1 Apr 2019$276M$151M – $454M$298M (+8%)after a round–unknownB0%
1 May 2019$282M$151M – $454M$298M (+6%)after a round–unknownB0%
1 Jun 2019$288M$151M – $454M$298M (+3%)after a round–unknownB0%
1 Jul 2019$294M$151M – $454M$298M (+1%)after a round–unknownB0%
1 Aug 2019$298M$148M – $454M$298M (0%)after a round–unknownB0%
1 Sep 2019$298M$141M – $454M$298M (0%)after a round–unknownB0%
26 Sep 2019$354M$249M – $652M$459M (+30%)after a round–unknownB0%
1 Oct 2019$355M$249M – $652M$459M (+29%)after a round–unknownB0%
1 Nov 2019$363M$249M – $652M$459M (+27%)after a round–unknownB0%
1 Dec 2019$371M$249M – $652M$459M (+24%)after a round–unknownB0%
1 Jan 2020$379M$249M – $652M$459M (+21%)after a round–unknownB0%
1 Feb 2020$388M$249M – $652M$459M (+18%)after a round–unknownB0%
1 Mar 2020$396M$249M – $652M$459M (+16%)after a round–unknownB0%
1 Apr 2020$405M$249M – $652M$459M (+13%)after a round–unknownB0%
1 May 2020$414M$249M – $652M$459M (+11%)after a round–unknownB0%
1 Jun 2020$423M$249M – $652M$459M (+9%)after a round–unknownB0%
1 Jul 2020$432M$249M – $652M$459M (+6%)after a round–unknownB0%
1 Aug 2020$442M$249M – $652M$459M (+4%)after a round–unknownB0%
1 Sep 2020$452M$249M – $652M$459M (+2%)after a round–unknownB0%
1 Oct 2020$459M$247M – $652M$459M (0%)after a round–unknownB0%
1 Nov 2020$459M$235M – $652M$459M (0%)after a round–unknownB0%
1 Dec 2020$459M$225M – $652M$459M (0%)after a round–unknownB0%
1 Jan 2021$459M$215M – $652M$459M (0%)after a round330unknownB0%
1 Feb 2021$459M$205M – $652M$459M (0%)after a round330unknownB0%
1 Mar 2021$459M$197M – $652M$459M (0%)after a round330unknownB0%
1 Apr 2021$459M$188M – $652M$459M (0%)after a round330flatC0%
1 May 2021$459M$180M – $652M$459M (0%)after a round330flatC0%
1 Jun 2021$459M$171M – $652M$459M (0%)after a round330flatC0%
1 Jul 2021$459M$164M – $652M$459M (0%)after a round330flatC0%
1 Aug 2021$1.5B$1.3B – $2.2B$2.0B (+30%)after a round330flatA0%
1 Sep 2021$1.5B$1.3B – $2.2B$2.0B (+27%)after a round330flatA0%
1 Oct 2021$3.0B$2.6B – $4.5B$3.9B (+30%)after a round330flatA0%
2 Oct 2021$3.0B$2.6B – $4.5B$3.9B (+30%)after a round330flatA0%
1 Nov 2021$3.1B$2.6B – $4.5B$3.9B (+27%)after a round330flatA0%
1 Dec 2021$3.1B$2.6B – $4.5B$3.9B (+24%)after a round330flatA0%
1 Jan 2022$3.2B$2.6B – $4.5B$3.9B (+22%)after a round330flatA0%
1 Feb 2022$3.3B$2.6B – $4.5B$3.9B (+19%)after a round570growingA0%
1 Mar 2022$3.3B$2.6B – $4.5B$3.9B (+17%)after a round570growingA0%
1 Apr 2022$3.4B$2.6B – $4.5B$3.9B (+14%)after a round570growingA0%
1 May 2022$3.5B$2.6B – $4.5B$3.9B (+12%)after a round570growingA0%
1 Jun 2022$3.6B$2.6B – $4.5B$3.9B (+9%)after a round570growingA0%
1 Jul 2022$3.6B$2.6B – $4.5B$3.9B (+7%)after a round570growingA0%
1 Aug 2022$3.7B$2.6B – $4.5B$3.9B (+4%)after a round570growingA0%
1 Sep 2022$3.8B$2.6B – $4.5B$3.9B (+2%)after a round570growingA0%
1 Oct 2022$3.9B$2.6B – $4.5B$3.9B (0%)after a round570growingA0%
1 Nov 2022$3.9B$2.5B – $4.5B$3.9B (0%)after a round570unknownA0%
1 Dec 2022$3.9B$2.4B – $4.5B$3.9B (0%)after a round570unknownB0%
1 Jan 2023$4.3B$2.7B – $5.0B$4.3B (0%)after a round920growingB0%
1 Feb 2023$4.3B$2.8B – $5.0B$4.3B (0%)after a round920growingA0%
1 Mar 2023$4.3B$2.8B – $5.0B$4.3B (0%)after a round920growingA0%
1 Apr 2023$4.3B$2.8B – $5.0B$4.3B (0%)after a round920growingA0%
1 May 2023$4.3B$2.9B – $5.0B$4.3B (0%)after a round920growingA0%
1 Jun 2023$4.3B$2.9B – $5.0B$4.3B (0%)after a round920growingA0%
1 Jul 2023$4.3B$3.0B – $5.0B$4.3B (0%)after a round920growingA0%
1 Aug 2023$4.3B$3.0B – $5.0B$4.3B (0%)after a round920growingA0%
1 Sep 2023$4.3B$1.7B – $5.0B$4.3B (0%)after a round920unknownB0%
1 Oct 2023$4.5B$2.6B – $5.2B$4.5B (0%)after a round1,100upB0%
1 Nov 2023$4.5B$2.4B – $5.2B$4.5B (0%)after a round1,100upB0%
1 Dec 2023$4.5B$2.3B – $5.2B$4.5B (-1%)after a round1,100upB0%
1 Jan 2024$4.5B$2.3B – $5.2B$4.5B (-1%)after a round1,100upB0%
1 Feb 2024$4.5B$2.2B – $5.2B$4.4B (-1%)after a round1,100upB0%
1 Mar 2024$4.6B$2.2B – $5.3B$4.6B (0%)after a round1,200upB0%
1 Apr 2024$4.6B$2.2B – $5.3B$4.6B (-1%)after a round1,200upB0%
1 May 2024$4.6B$2.2B – $5.3B$4.6B (-1%)after a round1,200upB0%
1 Jun 2024$4.6B$2.1B – $5.3B$4.6B (-1%)after a round1,200upB0%
1 Jul 2024$4.7B$3.2B – $5.4B$4.7B (0%)after a round1,300growingA0%
1 Aug 2024$4.7B$2.1B – $5.4B$4.5B (-3%)after a round1,300upB0%
1 Sep 2024$4.7B$2.0B – $5.4B$4.5B (-4%)after a round1,300upB0%
1 Oct 2024$4.7B$1.6B – $5.4B$4.5B (-4%)after a round1,300upC0%
1 Nov 2024$4.7B$1.5B – $5.4B$4.5B (-4%)after a round1,300upC0%
1 Dec 2024$4.6B$1.5B – $5.3B$4.5B (-4%)after a round1,300upC0%
1 Jan 2025$4.6B$1.4B – $5.3B$4.5B (-4%)after a round1,300upC0%
1 Feb 2025$4.6B$1.4B – $5.3B$4.4B (-4%)after a round1,300upC0%
1 Mar 2025$4.6B$1.4B – $5.3B$4.4B (-4%)after a round1,300upC0%
1 Apr 2025$4.6B$1.3B – $5.3B$4.4B (-4%)after a round1,300upC0%
16 Apr 2025$113M$74.3M – $189M$124M (+10%)after a round1,300flatB0%
1 May 2025$114M$74.3M – $189M$124M (+10%)after a round1,300flatB0%
1 Jun 2025$114M$74.3M – $189M$124M (+9%)after a round1,300flatB0%
1 Jul 2025$114M$74.3M – $181M$114M (0%)after a round1,118flatB49%
1 Aug 2025$114M$74.0M – $176M$108M (-5%)after a round1,100flatB70%
1 Sep 2025$114M$74.0M – $176M$105M (-8%)after a round1,100flatB70%
1 Oct 2025$112M$73.8M – $171M$96.0M (-15%)after a round1,086downB97%
1 Nov 2025$113M$73.8M – $171M$93.2M (-17%)after a round1,086downB97%
1 Dec 2025$113M$73.8M – $172M$90.6M (-20%)after a round1,088downB97%
1 Jan 2026$113M$73.8M – $172M$88.0M (-22%)after a round1,088downB97%
1 Feb 2026$113M$74.0M – $172M$85.6M (-24%)after a round1,096downB97%
1 Mar 2026$113M$74.0M – $173M$85.5M (-25%)after a round1,096downB91%
1 Apr 2026$114M$74.0M – $173M$83.2M (-27%)after a round1,096downB91%
1 May 2026$114M$72.7M – $176M$81.9M (-28%)after a round1,141downB83%
1 Jun 2026$112M$69.1M – $178M$82.5M (-26%)after a round1,141flatB77%
1 Jul 2026$111M$65.8M – $179M$83.4M (-25%)after a round1,141flatB71%
1 Aug 2026$110M$62.5M – $180M$84.3M (-23%)after a round1,141flatB65%
1 Sep 2026$109M$59.4M – $182M$85.3M (-22%)after a round1,141flatB60%
1 Oct 2026$109M$56.7M – $183M$86.6M (-20%)after a round1,155flatB55%
24 Oct 2026$179M$54.6M – $307M$160M (-11%)after a round1,155flatC55%

Key facts about OfBusiness

Founded
2015
Headquarters
Ahmedabad, India
Employees
about 1,170 +6% in a year
Total raised
$436M
Funding rounds
5
Last round
Growth Equity Apr 2025

OfBusiness was founded in 2015 by Asish Mohapatra, Nitin Jain and Ruchi Kalra.

OfBusiness funding history

OfBusiness has 5 funding rounds on record, from Jul 2018 to Apr 2025, $436M in total. The latest disclosed valuation is $3.00B post-money (Series F, Oct 2021).

  1. Growth Equity 15 Apr 2025

    Led by Cornerstone Ventures.

    Sources: angelone.in, indianstartuptimes.com, thearcweb.com

    $12M

  2. Series F 1 Oct 2021

    Led by Tiger Global; with Matrix, SoftBank Vision Fund, Alpha Wave Global.

    Sources: z47.com, yourstory.com, entrackr.com

    $200M

    $3.00B post-money

  3. Series E 31 Jul 2021

    Led by SoftBank Vision Fund; with Alpha Wave Global, Matrix.

    Sources: ofbusiness.com, entrackr.com, businesstoday.in and 2 more

    $160M

    $1.50B post-money

  4. Series D 25 Sep 2019

    Led by Norwest; with Matrix, Falcon Edge.

    Sources: thenewsminute.com, entrackr.com, z47.com

    $35M

  5. Series C 18 Jul 2018

    Led by Creation Investments, Falcon Edge; with Matrix, Zodius Capital.

    Sources: ofbusiness.com, yourstory.com, ofbusiness.com

    $29M

OfBusiness investors

9 investors have backed OfBusiness; Falcon Edge, SoftBank Vision Fund and Cornerstone Ventures and 3 more led at least one round.

What OfBusiness does

OfBusiness works in chemicals, with 10 recorded offerings and customers in energy, chemicals, agriculture and steel.

OFB TECH Limited, known as OfBusiness, is an Indian company engaged in raw materials procurement and credit solutions for businesses. The company operates a platform that provides raw materials sourcing, credit access, and digital solutions, serving SMEs and corporates across India and 15 countries. OfBusiness is ISO certified and offers technologies such as AI-enabled platforms for real-time commodity prices and tenders, as well as a SaaS platform for SMEs.

Description from Veridion's company data.

Products and services

  • Raw Materials Procurement and Distribution
  • Industrial Credit Solutions
  • Digital Platform Development
  • AI-Enabled Commodity Price and Tender Services
  • SME Digital Solutions Development
  • Steel and Metal Materials Procurement
  • Aluminium Materials Procurement
  • Agricultural Raw Materials Procurement
  • Petroleum and Energy Materials Procurement
  • Polymer and Chemical Materials Procurement

Markets

  • Energy
  • Chemicals
  • Agriculture
  • Steel
  • Aluminium
  • Petroleum

Technology

  • AI-Enabled Real-Time Commodity Price and Tender Data

Certifications

  • ISO 27001

Business model

  • Business-to-Business
  • Service Provider
  • Software-as-a-Service
  • Enterprise

Industry codes (NAICS)

  • 424990 Other Miscellaneous Nondurable Goods Merchant Wholesalers 50% match
  • 522299 International, Secondary Market, and All Other Nondepository Credit Intermediation 30% match
  • 541511 Custom Computer Programming Services 20% match

Questions about OfBusiness

What is OfBusiness worth?

Valuation $179M (range $54.6M to $307M), as of 24 Oct 2026. The last disclosed valuation was $3.00B (Series F, Oct 2021).

Has OfBusiness raised money?

OfBusiness has 5 funding rounds on record, from Jul 2018 to Apr 2025, $436M in total. The latest disclosed valuation is $3.00B post-money (Series F, Oct 2021).

Who has invested in OfBusiness?

Falcon Edge, SoftBank Vision Fund, Cornerstone Ventures, Creation Investments, Norwest and Tiger Global, and 3 more. Lead investors include Falcon Edge, SoftBank Vision Fund, Cornerstone Ventures and Creation Investments.

How many people work at OfBusiness?

About 1,170, up 6% over the last year. Headcount rose from 330 in Jan 2021 to 1,300 in Jul 2024, then fell to 1,155 in Sep 2026.

What does OfBusiness do?

OfBusiness works in chemicals, with 10 recorded offerings and customers in energy, chemicals, agriculture and steel. Its main offerings are raw materials procurement and distribution, industrial credit solutions and digital platform development.

When was OfBusiness founded, and where is it based?

OfBusiness was founded in 2015 and is based in Ahmedabad, India. It has about 1,170 employees, up 6% over the last year.