Inxeption also continued its international expansion by launching a subsidiary in India.
CUPERTINO, Calif., July 18, 2023 /PRNewswire-PRWeb/ -- Inxeption, the Industrial Commerce company, achieved more than 30 percent revenue growth during the first half of the year driven by increased sales activity in its marketplaces. In the same period, gross profit growth increased over 300 percent, compared to the same period the year before.
"We are seeing incredible adoption of Inxeption's store technology as more buyers and sellers seek to transact digitally," said Inxeption co-founder and CEO Farzad Dibachi. "Buyers continue to benefit from a digital procurement process and a rich selection of products across vertical marketplaces, and sellers are taking advantage of new digital distribution channels and marketing tools that help them reimagine the way they do business."
During the second quarter, transactions across marketplaces increased by more than 140 percent when compared to the previous quarter, and the number of transacting commerce partners increased by over 80 percent during the same period. Inxeption's solar panel marketplace achieved record revenues in the first half of the year, with five of the top ten solar installers in the country procuring modules through the marketplace. Inxeption's energy storage marketplace also achieved substantial growth, as battery transactions increased by more than 60 percent, quarter-over-quarter, in Q2.
Inxeption also continued its international expansion by launching a subsidiary in India. Inxeption India will serve as both a sales and development center for the global parent company, and it is expected to be one of Inxeption's largest entities. Inxeption's India office will be at the forefront of digitizing the shift of imports from China to India.
"Inxeption allows industrial manufacturers, suppliers and buyers to connect, transact, fulfill and understand the global industrial value chain. We're seeing extraordinary results because customers are ready to revolutionize the tired manual processes that have historically defined industrial commerce," Dibachi said. "We continue to define the new paradigm for industrial business excellence, with new marketplaces and technologies on the horizon. More to come."
About Inxeption
Inxeption is the leading technology platform digitizing the global Industrial Commerce value chain. We are advocates for our ecosystem of suppliers and buyers, enabling them to Do Business Better.
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Jon Ross, Inxeption, 408.461.5275, media@inxeption.com
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