Hashtaag, a software development firm acqui-hired by ReshaMandi
- ByStartupStory | March 16, 2022
ReshaMandi, a digital ecosystem for the natural fabric supply chain from farm to retail, has signed an acqui-hire agreement with Hashtaag to gain access to the latter’s pool of tech expertise. To support its vertical, ReshaMandi connects multiple stakeholders with essential inputs, technology, and markets.
Hashtaag is a custom software development company that specializes in creating innovative products to help businesses flourish. ReshaMandi has been linking numerous stakeholders across the spectrum with appropriate inputs, technology, and markets to support its vertical, which helps chawki rearers and farmers, since May 2020.
Hashtaag’s expertise in application development, as well as Internet of Things (IoT), DevOps, and network security solutions, will help to improve the systems in place to digitize the natural fiber supply chain.
ReshaMandi digitizes the silk supply chain and provides stakeholders with full-stack support, which includes logistics, financing, and scientific testing. With its e-commerce platform ReshaWeaves, the firm just entered the direct-to-consumer (D2C) market.
ReshaMandi is in talks with various global private equity and hedge funds to raise $100 million (about Rs 748 crore) and beyond at a valuation of $600 million to $700 million, according to VCCircle.
In October 2021, the firm raised $30 million (about Rs 230 crore) in an equity and debt mix headed by global alternative investment manager Creation Investments as part of its Series A funding round. Also, InnoVen Capital, a Temasek-backed venture debt firm, invested in Reshamandi in August 2021
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