B2B Marketplace IndiaMART invests INR 13.35 crore in EasyEcom
- ByTejika Bajaj | January 7, 2022
The B2B e-commerce marketplace IndiaMart recently announced that it has invested a sum of INR 13.35 crore via its wholly owned subsidiary TradeZeal Online Pvt. Ltd in AI focused SaaS startup EasyCom. Through this investment, IndiaMART would own a stake of 26.01 per cent in the SaaS startup.
Talking about the recent investment made by the B2B marketplace, the co-founder and Director of IndiaMart, Brijesh Kumar Agarwal said, “This transaction is a part of IndiaMART’s ongoing efforts to make commerce easy for Indian merchants. Merchants across India have increasingly started to realise the importance of adopting various online sales channels, and the market in itself is large and fast-growing. We understand the tremendous potential of the company to cater to major ecommerce marketplaces. Moreover, this investment is aligned with IndiaMART’s long-term vision to provide a holistic ecosystem for all business needs.”
Operated by EdgeWise Technologies, the startup is an AI driven tech startup which provides omnichannel inventory and warehouse management solutions to the startup. It further allows its merchants to allocate, track and reconcile inventory across online and offline sales mediums. It also offers additional modules which automate other back office functions of merchants, such as shipping related payments reconciliation and returns reconciliation.
The CEO of EasyEcom, Punet Gupta expressed his views on the recent round of capital infusion by stating, “With this Series A funding of USD 2 million from IndiaMART, we are looking forward to becoming the best in terms of providing flawless, advanced and at the same time flexible omnichannel inventory and warehouse management solutions. Funds will be deployed to further strengthen our technology and invest in marketing and expansion activities.”
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