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Softbank, Tiger Global-backed OfBusiness snaps up food ingredients firm

VCCircle · 2m

OfBusiness, a B2B procurement platform supported by SoftBank and Tiger Global, is acquiring a Kerala-based manufacturer specializing in herbs and spice products. The move is part of OfBusiness's efforts to expand its raw materials procurement capabilities. Currently operated by OFB Tech Ltd, the company is reportedly preparing to launch its initial public offering (IPO). This acquisition aligns with OfBusiness's strategy to enhance its market presence within the raw materials sector.