These Entrepreneurs Build One-Stop Online Store For Lab Equipment

The laboratory equipment and supply industry in India has been growing steadily over the past few years. As the demand for high-quality research and testing facilities increases, so does the need for advanced laboratory equipment and supplies. One of the key factors driving growth in this industry is the increasing number of research and development (R&D) activities being carried out by the government and private organisations. These R&D activities require sophisticated laboratory equipment and supplies to ensure accurate testing and analysis.

The market for laboratory supplies and equipment is estimated to be worth between $4 billion to $5 billion. There are numerous participants in this unorganised market, all competing to satisfy India's rising demand for high-quality laboratory supplies and equipment. But in India, there isn't a one-stop shop that provides a data-driven and transparent approach for purchasing laboratory equipment and supplies through an online portal.

To address this problem statement, Karl Wyzenbeek, who has 20 years’ experience in the Australian Scientific market laid the early foundations of LabFriend across the Asia Pacific Region. After the success of LabFriend in Australia, Singapore and other ASEAN nations, Karl looked to increase the footprint of LabFriend to Asia’s fastest-growing market: India. Karl reached out to his old business colleagues Nilay and Rachit and decided it was time to launch the e-commerce platform in the Indian market.

What is LabFriend?

LabFriend is the fastest growing online laboratory equipment and scientific supply store. It has a massive inventory of high-quality equipment and accessories that can be accessed through a simple, unique & user-friendly platform.

LabFriend is the go-to destination for scientists, researchers, QC professionals and R&D centres in India. It has 75,000 products from 430 European brands listed on its platform https://www.labfriend.co.in/

In essence, it is the one-stop destination for laboratory equipment and scientific supply needs in India. From microscopes and centrifuges to pipettes and petri dishes. Basically, anything and everything found in the laboratory’s floor-to-ceiling can be purchased from LabFriend at an affordable price.

The Team:

Karl Wyzenbeek had worked hard early in his career to build a sales and service network for Australia and NZ’s leading laboratory supplier. Rachit Parekh & Nilay Shah founded Bishops Scientific in 2021. Rachit holds a bachelor's degree in management, and a diploma in entrepreneurship and comes from a business background that deals in laboratory supplies. He has hands-on experience in distribution and has also assisted his family in growing the existing family business to a 140-crore company.

On the other hand, Nilay holds an MBA from a top business school and was based out of the UK but decided to move to India to run the new instrumentation company Bishops that he co-founded with Rachit. Throughout his career, Nilay has built a reputation for being a thought leader and innovator in the field of laboratory and analytical instruments. With over 22 years of experience in the field of scientific instrumentation as an International Sales Leader, Nilay has an extensive network of contacts and a deep understanding of the market.

LabFriend’s Differentiation Factor

LabFriend takes a contemporary but genuine approach. Through its extensive product listings and categories, its online platform https://www.labfriend.co.in/ is incredibly quick at delivering search results.

A cost-effective solution that is highly desired by customers is produced as a result of its lean model, which ensures that resources are used effectively and efficiently. Every project is handled by in-house engineers who are leaders in their field and have a wealth of knowledge and experience.

Additionally, the business's after-sale support is unmatched, giving customers the help and support they require long after the initial purchase has been made.

Due to partnerships with the parent companies of major European producers of laboratory equipment, LabFriend can offer competitive prices. Additionally, its game-changing suggestion module on the platform suggests comparable products if a specific product is out of stock.

LabFriend has integrated a chatbot on its online portal that helps users find answers to queries within seconds. All of these factors have contributed to the company's success and have set it apart from its competitors.

The Now & Future:

LabFriend has 17 categories of products listed on its platform. A few notable categories are Cleaning-Sterilisation, Chromatography,  Distillation- Separation-Filtration, Green Laboratory Consumables, Life Sciences, Liquid Handling, Optical Instruments- Microscopes, Sample Preparation, Stirring-Shaking-Mixing & Analytical Measurements-Testing.

Bishops Scientific, the company that runs the LabFriend business in India has its headquarters in Mumbai, began with just one employee and has since expanded to a staff of fifteen. Since then, the business has grown to include offices in Hyderabad, Indore, and Ahmedabad, with plans to open branches in Bangalore and Delhi as well.

The company is disrupting the industry with its pull mechanism, and it has even set up a manufacturing operation for calibration fluids as part of the "Made in India" initiative.

Conclusion:

The bishops team have ensured profitability from day one and has bootstrapped Bishops Scientific. Within the first three years,        Bishops Scientific PVT Ltd the parent firm of LabFriend has reached a turnover of Rs 20.75 crores.

Rachit & Nilay go on to say …. “As the industry continues to grow, LabFriend is committed to staying at the forefront of innovation and providing the best possible service and support to its customers”

Whether you're a seasoned researcher a student just starting in the research field or even an FMCG company that needs to test its products, LabFriend has got you covered.