Exclusive: E-commerce enabler EasyEcom raises fresh money
Bengaluru-based e-commerce enabler EasyEcom has raised an undisclosed amount from Amistad Ventures, a US-based early-stage investment firm.
The company will use the money to make further investments to enter new geographies and boost its product portfolio, Punit Gupta, founder and chief executive of EasyEcom, told TechCircle.
"The market continues to support us as e-commerce is seeing unprecedented growth in India," Gupta said. "The company has made significant progress in terms of topline as well as profitability since the last angel round. We are seeing strong interest by both domestic and overseas investors."
Owned by Edgewise Technologies Pvt. Ltd, EasyEcom helps brands manage their omni-channel business. The company targets mid-to-large retail enterprises in India and globally.
EasyEcom’s omni-channel solution helps companies sell on multiple platforms. EasyEcom has two primary offerings. Its flagship product is warehouse management software, which enables ready integrations with e-commerce channels such as Flipkart, Amazon, Myntra and Paytm.
The software can integrate itself with tech solutions like SAP and Microsoft Navision and offers business-to-business order management capabilities. The second product is an automatic reconciliation software helping e-commerce brands manage expenses such as marketplace commission, payment gateway charges, and courier fees.
EasyEcom was founded in February 2014 by Punit Gupta, an IIT-Guwahati graduate. He previously led the technology team for a business-to-business hyperlocal startup named OnePath based in Atlanta, US.
EasyEcom’s client base include brands like Provogue, Killer Jeans, Swiss Military, and Casio.
Bengaluru-based DIA Capital Advisors acted as an advisor to EasyEcom for this round of funding.
In December 2017, EasyEcom had raised angel funds from investors including Ambarish Gupta, chief executive officer (CEO) of Knowlarity Communications; Aneesh Reddy, CEO of Capillary Technologies; and Bold Ventures, an early-stage investment firm now merged with 500 Startups and Vona Investments, an early-stage angel firm from the US.
E-commerce enablement space
A handful of startups have made it big in the e-commerce enablement space in India.
Bengaluru-based e-commerce solutions and consultancy firm Ace Turtle had raised an undisclosed sum from venture debt firm Innoven Capital in September last year. The company had earlier raised its Series A funds from C31 Ventures, the venture investment arm of real estate developer CapitaLand.
In August 2017, Zepo Technologies Pvt. Ltd, which runs a do-it-yourself e-commerce platform for small businesses, had raised Rs 3.19 crore from investors including online funding platform LetsVenture, FreeCharge co-founder Kunal Shah and People Group founder Anupam Mittal.
In June 2017, Singapore- and Bengaluru-based e-commerce enabler Shopmatic had raised $5.7 million in a Series A round from ACP Pte. Ltd, a technology-focused venture capital firm, and Spring Seeds Capital Pte. Ltd, the investment subsidiary of Spring Singapore.
In May 2017, Singapore- and Pune-based Anchanto had raised an undisclosed amount from Luxasia Group, a Singapore-headquartered omni-channel retailer of beauty products.