Venwiz is a cutting-edge startup that operates a B2B (business-to-business) platform designed to streamline the process of sourcing and collaborating with service vendors for manufacturing companies. The company primarily serves manufacturing firms that require various industrial services, such as engineering, maintenance, and procurement of plant equipment. Venwiz operates in the industrial services market, which includes a wide range of sectors from automotive to pharmaceuticals.

The business model of Venwiz revolves around its AI-powered platform, which helps manufacturing companies discover, assess, and connect with verified service vendors that match their specific needs. By leveraging a proprietary algorithm, Venwiz ensures that clients are matched with vendors based on their capabilities and past performance. This not only saves time but also enhances the efficiency and reliability of vendor selection.

Venwiz makes money by charging fees for its matchmaking services. These fees can come from either the manufacturing companies looking for vendors or the service vendors themselves who wish to be listed and discovered on the platform. Additionally, Venwiz may offer premium features or subscription models that provide enhanced visibility and additional tools for both manufacturers and vendors.

The company recently raised $3 million in seed funding from Accel and Nexus Venture Partners, which will likely be used to further develop its technology and expand its market reach across India.

In summary, Venwiz is revolutionizing the industrial services procurement process by offering a single, efficient platform for vendor discovery and collaboration, making it easier for manufacturing companies to find the right partners for their needs.

Keywords: B2B platform, manufacturing services, vendor sourcing, industrial services, AI-powered, procurement, engineering services, maintenance, verified suppliers, Accel funding.