IndiaMART acquires 26% stake in warehouse mgt firm EasyEcom for Rs 13.35 cr
IndiaMART, India’s largest B2B marketplace, has made an investment of about Rs 13.35 crore via its wholly-owned subsidiary Tradezeal Online Private Limited, to acquire a 26.01% stake in EasyEcom (Edgewise Technologies Private Limited).
A press release issued by EasyEcom says Edgewise Technologies is an AI-driven omnichannel inventory and warehouse management company that offers SaaS-based online commerce enablement solutions to merchants. Its flagship inventory and warehouse management solutions allow merchants to allocate, track and reconcile inventory across various online and offline sales channels, the release stated, adding that the firm offers additional modules that automate the other back office functions of merchants, such as shipping related payments reconciliation and returns reconciliation.
Speaking about the investment, Brijesh Kumar Agrawal, Co-Founder and Director, IndiaMART was quoted by the release as saying, “This transaction is a part of IndiaMART’s ongoing efforts to make commerce easy for Indian Merchants…EasyEcom’s solutions allow MSMEs to easily manage and sell products across various sales channels. 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.”
“Covid-19 transformed the entire retail market and accelerated the digital transformation of commerce. We rapidly ramped up the team during the covid lockdown 1 and grew a massive 300 per cent over the next 18 months. With this Series A funding of $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 & warehouse management solutions. Funds will be deployed to further strengthen our technology and invest in marketing & expansion activities,” said Punit Gupta, CEO of EasyEcom.
Since its listing on BSE and NSE, IndiaMART has backed several MSMEs and SMEs and has invested in softwares such as Vyapar, Bizom, Shipway, Legistify, Superprocure and Aerchain. The investment in EasyEcom is also in line with IndiaMART’s long term objective of offering various Software as a Service (SaaS) solutions for businesses.
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