Viztaar is a B2B marketplace for Industrial raw materials that primarily caters to the Indian manufacturers for their day to day requirements for different raw materials like polymers, chemicals used in production of electrical equipment, packaging, automobile parts and many other products. The raw material prices are always volatile and a small change can deeply affect the profitability of any manufacturing business as such remains on the top agenda of any plant owner.
Viztaar Offerings
Viztaar provides an online platform www.viztaar.com for buying such raw material and that too at the competitive prices. Not only this, Viztaar also ensure the quality and timely doorstep delivery of the raw materials. This make Viztaar a platform of choice for manufacturers for their raw material requirements. Currently, Viztaar has a reach of more than 10,000 manufacturing units from various industries with consumption of polymers and chemicals.
Viztaar is a technology first platform and has a deep focus on building tech enabled processes giving seamless experience to its customers. From onboarding a new customer till the delivery of raw material to the manufacturing facility of customer, every action is captured using tech enabled interface. This not only improves the customer experience but also enhance the efficiencies.
Viztaar Business Model
Viztaar business model is designed to provide cost effective raw materials with quality assurance. As such, they source most of the material they sell, directly from the manufacturer or importer. This not only ensures better pricing but also reduce the time to deliver the material. Moreover, many small and large seller are associated with Viztaar to sell their products, at equally competitive rates, who were facing issues of poor liquidity due to limited geographical reach, trust issues with new customers along with the limitations of stocks in limited grades.
Being a Tech enabled platform, Viztaar with just a team size of about 20+ people, is currently clocking an annualized turnover of ~180 cr (almost double that of last year).
Viztaar has actually disrupted the highly fragmented industry of raw materials. Its digital platform act as a buyer to seller and act as a seller for a buyer. Not only this, Viztaar also facilitates both sides by taking end to end responsibility of counterparty risks, logistics, payments etc.
Founders Profile
Nitesh Gupta, Founder – Viztaar, is an alumini of IIT with of about 12 years in Manufacturing and Raw Material sales. Coming from a family of entrepreneurs and businessmen, Nitesh has always been involved in this segment from early times in his career. He has a deep understanding of how this market works and the pain points of both buyers and sellers. He envisaged the use of digital platforms in purchasing of raw materials which got well accepted by the markets.
And that is how Viztaar come into existence.
“I feel, buying industrial raw materials should be as easy and simple as buying a mouse pad online on Amazon.” – Nitesh Gupta
Nitesh has seen both sides of the business in past, both as a manufacturer buying raw materials and as a supplier of industrial raw materials, he realized that even though there’s a huge push for ‘Make in India’ and improving ‘Ease of doing business’ from the government, there’s hardly been any innovation that addressed the pain points of this segment. He realized that buyers struggling to find suppliers through unorganized and unreliable channels such as WhatsApp groups and social media platforms. A lot of these buyers would end up getting duped on promise of cheaper prices getting inferior quality. Some would even lose their entire deposit as the supplier turned out to be a fraud and simply ran away with the buyer’s money. Thus Viztaar not only takes care about efficient prices but also assures counterparty payment and doorstep delivery as well.
Viztaar Growth Story
Since the launch in Jan 2022, Viztaar has crossed several milestones. Viztaar has successfully catered to clients across 48 cities in 14 states. It started with 3 product categories and now has scaled to active transactions in 15 different product categories. Viztaar is working on expanding its product categories and to introduce private labels in products that are non standardized through strict quality control and testing processes. These private label products will provide an assured standardized alternative to buyers otherwise hassled by varying qualities in different lots of products.
Viztaar makes a gross margins of about 2-3% on the overall GMV. The primary focus to begin with remained poly-chemicals which has its application in plastics, packaging, automobile, infrastructure, wires and electrical goods, etc. In current financial year the turnover remained close to 90 crs. However the as per last month turnover, it is clocking a run-rate of close to 180cr.
Viztaar Fundings & Investors
Well thats the most interesting part, Viztaar till date is a bootstrapped venture. With highly cost efficient and tech enabled servicing model, Viztaar is funding its own growth toll date.
Future growth Prospects
The Viztaar is planning to start its own private label brand to facilitate small manufacturers sell their products at a bigger scale. It will also help buyers to purchase cost effective material without worrying about the quality. The scale is expected to improve with the credit facility to under-served manufacturers as such they are looking to create a structure for credit, in order to improve scale and stickyness of the customer. They are also actively building upon the sourcing capabilities which involves tieing up with larger exporters and trading entities across the globe. This will not only help in keeping a ready supply for their customers but will also improve trade margins.
Viztaar is also planning to setup its warehouses at different locations of the country. With its expansion across the length and breadth of the country, it is evident that Viztaar is getting good acceptance from the manufacturing community. With an aim to provide a JIT supply for cash-deficit or working capital concious manufacturers, they are planning to go near to demand zones and reduce the time to reach customers.
Viztaar is a tech enabled future ready organization looking to disrupt the raw material supply industry. Such kind of innovative ventures would surely help Indian manufacturing sector and thus overall economy is their small way.
