IndiaMART, an Indian B2B marketplace, has invested INR 13.35 crore ($1.79 million) in EasyEcom, acquiring a 26.01 % share through its wholly-owned subsidiary Tradezeal Online.
Edgewise Technologies, often known as EasyEcom, is a firm that provides retailers with omnichannel inventory and warehousing management SaaS solutions. Merchants can use these solutions to allocate, track, and reconcile inventory across several online and physical channels.
Additional modules on the platform automate back-office processes such as shipping-related payments and returns reconciliation. The funding will improve the startup’s technology, marketing, and expansion efforts.
Brijesh Kumar Agrawal, co-founder, and director of IndiaMART 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 realize the importance of adopting various online sales channels, and the market in itself is large and fast-growing. EasyEcom’s solutions allow MSMEs to manage and sell products across various sales channels easily.”
The global market for inventory management software is expected to rise at a CAGR of 11.9 percent, from $1.22 billion in 2020 to $2.99 billion in 2028.
“Covid-19 transformed the entire retail market and accelerated the digital transformation of commerce. We rapidly ramped up the team during the Covid lockdown and grew a massive 300% over the next 18 months. With this funding, 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.”Punit Gupta, CEO of EasyEcom