Game-Changing Collaboration: Antler Teams Up with Nandan Nilekani and ONDC to Empower Startups

• ByStartupStory     |    August 10, 2023

Bengaluru-based early-stage venture capital firm Antler has introduced a new platform in partnership with Nandan Nilekani, Chairman of Infosys and Ekstep, FIDE (Beckn Protocol), and ONDC (Open Network for Digital Commerce). Named the Antler-ONDC platform, this initiative is designed to provide founders building on the ONDC with access to capital, expertise, and a network. It aims to bring together funding, community support, and content to assist entrepreneurs in creating successful businesses on the open protocol.

The Antler-ONDC platform offers pre-seed capital of $300,000 to founders with a team and an idea. Additionally, partners within the Antler network, including unicorn founders and strategic backers, can contribute up to $200,000 in additional investment. The platform also intends to support founders who lack a team and an idea by providing them with a curated community, allowing them to start their journey and develop their ventures with guidance from experts, operators, and ONDC network participants.

Selected founders building on ONDC and seeking founding teams will have the opportunity to be expedited to the Antler India Residency, a community that assists founders and operators in forming teams, developing ideas, and securing funding within three months.

“As the first VCs to launch a platform to increase talent density and enable opportunities on ONDC, we are excited to partner with visionaries such as Mr. Nandan Nilekani and the FIDE, ONDC leadership. We are excited to see founders building at population scale in themes like complex commerce, vernacular commerce, and flow-based lending, to name a few,” Nitin Sharma, Partner at Antler in India, said.

 “The Antler ONDC platform will provide everything from the best resources to a vibrant community and seed capital for them,” Sharma added.

“We are going to democratize ecommerce in India. It won’t be limited to a few players. Everyone, every supplier, including kirana stores, grocery and electronics retailers, small vendors, and restaurants, should participate in the digital marketplace on an open platform,” said Infosys Chairman Nandan Nilekani. 

Beckn Protocol offers a playground for innovators and problem-solvers and gives everyone a fair chance to participate in an online market, according to Sujith Nair, Co-founder of FIDE. “I encourage entrepreneurs to build on ONDC and build with Beckn Protocol,” he added.

ONDC, an open protocol aimed at democratizing Indian ecommerce, is witnessing over 1 lakh daily transactions in the grocery and mobility sectors. Its merchant network has expanded to more than 230 cities, with the addition of mobility services in various cities.

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