Supplierscave

https://magnitt.com/startups/undefined/supplierscave

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Company Information

Online platform to connect suppliers and buyers of Industrial products and services.

Contractors procure material for the project. Once the project is completed they are left with this unused material which has to be scrapped.
Usually such material costs 1% of the project value or 10% of Profits.
When scrapped the yield is 2% to 8% of the cost price and contractors are to write off the remaining value. We target to find buyers at a subsidised rate for such material and provide between 40% to 60% of the cost price.
We target to offer 15 to 30 times the value contractors could otherwise get.

Currently these kind of trade happens through offline agents or the material is scrapped. We are solving this problem of information asymmetry by using technology to organise the information and stream line the procurement process

Date Founded 03/2017

Primary Industry N/A

Founders 2

Team Members 1 - 10

Business type N/A

Development Stage Launch

Revenue generating Yes

Linked Institutions N/A

Demographics

Headquarter: United Arab Emirates (UAE)

Branches: India

Industries: N/A

Geographical focus: United Arab Emirates (UAE), Oman, Bahrain, India, Kuwait

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