IndiaMART, B2B marketplace of India, via its wholly owned subsidiary Tradezeal Online Private Limited, has made an investment of approximately Rs 133.5 million to acquire a 26.01 percent stake in EasyEcom (Edgewise Technologies Private Limited).
Edgewise Technologies under the brand name ‘EasyEcom’, is an AI-driven omnichannel inventory and warehouse management Solutions 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. It also offers additional modules which automate other back office functions of merchants, such as shipping related payments reconciliation and returns reconciliation.
Brijesh Kumar Agrawal, Co-Founder and Director, IndiaMART said, "EasyEcom’s solutions allow MSMEs to easily manage and sell products across various sales channels. This investment is aligned with IndiaMART's long-term vision to provide a holistic ecosystem for all business needs."
Punit Gupta, CEO of EasyEcom, said, "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 and warehouse management solutions. Funds will be deployed to further strengthen our technology and invest in marketing & expansion activities.”
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, it said in a press statement.
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