India Money Final

Within nine months of its establishment, B2B online marketplace XSTOK has bagged an investment of around US$450,000 from Oliphans Capital, an early-stage investment firm, and other angel investors.

Founded in January this year by Sanjiv Khandelwal and Mihir Shah, XSTOK is a B2B mobile transactional platform that functions as a central marketplace for buying and selling of ready and surplus goods.

Present on Andriod and iOS platforms, the app is designed for multiple industries. However, it is currently active in the textile space.

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The company claims that in less than three months, it has successfully conducted over 150 transactions and its seller list has over 130 names including Arvind Mills, Welspun Group, Mafatlal and Bombay Dyeing.

“XSTOK fits in well with our criteria. The team at XSTOK, with prior experience in the sector, has been able to identify a very relevant problem for the textile industry and have already proven the need for a platform like theirs. Moreover, they have a very well-defined revenue structure that makes it a viable business in the long run,” said Anish Jhaveri, Founder, Oliphans Capital.

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XSTOK aims to tap into the fragmented textile surplus market that lacks transparency. Through its platform, the company provides a systematic and quick way to sell its inventory at market determined prices. For a buyer, it provides a level playing field across all the suppliers.

“It’s is a win-win deal for both the seller and buyer of surplus textiles. It ensures transparent pricing, secure transactions and a large market for the seller. For buyers, it provides access to a much larger real-time inventory of surplus, irrespective of their location,” concluded Shah.