Leading B2B marketplace IndiaMART on Thursday said it has acquired a 26.01 per cent stake in ecommerce inventory and warehouse management solutions company EasyEcom through its wholly owned subsidiary, Tradezeal Online Pvt Ltd. The company said it has invested ₹13.35 crore for this stake.
This is part of EasyEcom’s Series A fund raise.
Solution for automation
Edgewise Technologies, under the brand name EasyEcom offers Saas-based online commerce enablement solutions to merchants. Its inventory and warehouse management solutions allow merchants to allocate, track and reconcile inventory across various online and offline sales channels. It also offers solutions for automation of other back-office functions of merchants such as shipping-related payments.
Brijesh Kumar Agrawal, Co-Founder and Director, IndiaMART said this investment is in-line with its long-term vision to provide a holistic ecosystem for all business needs.
“This transaction is a part of IndiaMART’s ongoing efforts to make commerce easy for Indian merchants. Merchants across India have increasingly started to realize the importance of adopting various online sales channels, and the market in itself is large and fast-growing,” he said.
Agrawal added that EasyEcom enables 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,” he stated.
Earlier investments
In the past, the B2B marketplace has invested in softwares such as Vyapar, Bizom, Shipway, Legistify, Superprocure and Aerchain.
“Covid-19 transformed the entire retail market and accelerated the digital transformation of commerce. We rapidly ramped up the team during the national lockdown (2020) and grew by 300 per cent over the next 18 months. These funds will be deployed to further strengthen our technology and invest in marketing and expansion activities,” said Punit Gupta, CEO of EasyEcom.
Founded in 2014, EasyEcom raised initial angel funding from a group of SaaS entrepreneurs like Aneesh Reddy of Capillary Technologies and Ambarish Gupta of Knowlarity Communications. Subsequently, the company raised a growth focused funding round from an early stage fund called Amistad Venture.
