Bizongo signs MoU with NALCO to meet the rising demand for aluminium via BizongoBuy

In a significant partnership aimed at transforming India's B2B eCommerce landscape, Accel and IFC-backed Bizongo have signed a Memorandum of Understanding (MoU) with National Aluminium Company Limited (NALCO), a Navratna Central Public Sector Enterprise (CPSE) and one of the country's largest producers of bauxite, alumina, aluminium, and power.

Purpose of the MoU signed

Through its advanced B2B eCommerce platform, BizongoBuy, and embedded finance solutions, BizongoFin, Bizongo will distribute a variety of non-ferrous products from NALCO, including ingots, T. ingots, sows, billets, and wire rods. This partnership aims to meet the growing demand for aluminium across industries such as power, engineering, transportation, construction, wires and cables, and extrusion.

Sachin Agrawal, Co-Founder & CEO of Bizongo, said, "It is indeed a matter of honour that within just three quarters of operations, Bizongo has emerged as one of the key distribution and financing platforms for NALCO's customers. Being entrusted as among the top-tier distributors by NALCO is a testimony to our deep understanding of B2B marketplaces and supply chain financing solutions. This collaboration reflects a coming together of technology companies and government enterprises to unleash the disruptive power of technology in simplifying B2B businesses and powering industrial growth."

About the Partnership

This new partnership between a tech-driven company and a government enterprise is pivotal as India prepares to meet the rising demand for non-ferrous metals, driven by its projected high GDP growth. Several government initiatives, such as Make in India, 100% rural electrification, Housing for All, Smart Cities, the Rs 100 lakh crore National Infrastructure Pipeline, renewable energy projects, and the FAME scheme for electric vehicles, alongside increased FDI, are expected to significantly boost aluminium consumption across the country, according to projections from the Ministry of Mines.

Prahlad Krishnamurthi, CEO of BizongoBuy, said, "Our partnership with NALCO not only strengthens our position in the raw material procurement but also empowers SMEs and corporates to access premium-quality materials predictably. The platform's tech-first approach that aids visibility of supply, simplifies invoicing, creates easy access to finance goes a long way in streamlining distribution and in bringing down the cost of procurement for industrial buyers." 

Bizongo has become India's first B2B eCommerce marketplace to surpass monthly distributions of 1,500-2,000 MT within the first quarter of this year's annual bid process. As a result, the tech company has been elevated to the top tier of NALCO's distributors, now handling over 3,000 MT per month. Bizongo is projected to distribute more than 27,000 MT of aluminium by March 2025.

This partnership marks a significant milestone in Bizongo's growth, highlighting the transformative potential of technology in modernising traditional industries. As India intensifies its efforts to strengthen the manufacturing sector, Bizongo is well-positioned to lead the way in nationwide efficient and sustainable aluminium sourcing.