Bizongo Appoints New CEO, Raises $4.5 Million

New Delhi, Mar 11 (PTI) B2B e-commerce platform Bizongo has elevated Prahlad Krishnamurthi as the CEO, effective immediately.

The Bengaluru-headquartered firm has also raised USD 4.5 million (about Rs 37 crore) in funding from Accel, B-Capital, IFC, and Chiratae, at a valuation of USD 980 million.

Krishnamurthi, who takes the CEO chair from company Founder Sachin Agrawal, told PTI that he will continue heading the BizongoBuy business -- a B2B raw material marketplace for SMEs.

Agrawal will continue to be a board member of Bizongo.

Bringing over two decades of experience, Krishnamurthi has previously held senior roles at Cleartrip, Flipkart, Infosys, and ITC Group.

Meanwhile, the new funding follows the USD 50 million Series E funding in October 2023.

Proceeds will be used to scale operations by three times by the end of December and category expansion, Krishnamurthi said.

The company has set targets to achieve break-even and start generating profits by the last quarter of FY26, he added.

The firm, which is primarily into raw material procurement and distribution, has offices in Bangalore, Mumbai and Delhi.