MonotaRO Co Ltd, a Japan largest MRO B2B e-commerce company, has now invested $15 million in a joint venture with Emtex Engineering to grow the latter’s SME eCommerce business in India.
Emtex Engineering operates Industrybuying.com. It has two businesses – Large enterprise and SME eCommerce.
“As part of the deal, Emtex has transferred its SME business into the JV, and continues to grow its large enterprise businesses independently,” a statement said.
“Through this JV, the company expects to efficiently develop its business in the Indian market, which is expected to grow significantly in the future, by utilising the ecommerce business model that Emtex has already established in India (industrybuying.com), and based upon the knowledge that the company has obtained through developing businesses in Japan and other countries around the world,” commented MonotaRO.