Energy drink maker Red Bull is hoping a partnership with B2B marketplace Solv will give it wings in India.
As Indian Retailer reported Monday (Feb. 7), the move will help Red Bull expand its reach through the 150,000 buyers on the Solv platform.
Based in the city of Bangalore, Solv is 100% owned by Standard Chartered Bank and serves micro-, small- and medium-sized enterprises (MSMEs).
The two companies say the partnership will give retailers, kiranas, restaurants and other small businesses on Solv’s platform one-click access to Red Bull’s drinks products at competitive prices along with assured delivery and flexible payment terms, without disrupting Red Bull’s existing traditional distribution channels.
The partnership will let users of Solv’s platform who purchase Red Bull stock use buyer finance provided directly through the platform, putting less strain on their working capital and cash flow requirements. Solv will also provide ambient temperature logistics and material handling, allowing Red Bull and its distributors to deepen their brand marketing and penetration.
Red Bull says Solv’s zero-inventory, pure-play B2B eCommerce marketplace model will prevent disruption to Red Bull’s existing traditional distribution channels. Onboarding them onto Solv’s platform will help them digitize and streamline their operations, expand their reach and give their businesses the opportunity to grow.
Read more: Indian B2B eCommerce Unicorn Moglix Boosts Valuation to $2.6B
India’s B2B eCommerce space has been active in recent months. In January, the B2B eCommerce platform Moglix announced it raised $250 million in its most recent fundraising round, bringing its valuation to $2.6 billion.
See also: B2B eCommerce Platform Udaan Plans IPO After $250M Fundraise
Earlier this year, the Indian B2B eCommerce platform udaan announced plans to launch an initial public offering next year following the conclusion of a $250 million funding round that came through a $200 million convertible note.
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