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Tradesala: Chennai trio launches e-commerce platform for MSMEs
Inshorts
·
7m ago
Medial
During COVID-19, countless small and medium-sized businesses struggled to sell Made in India products across the country and the global market. To address this issue, Chennai-based three friends, Joseph Jeravin, Sriram Rangaraaj, and Ashok Ramprasath, contributing ₹2.5 lakh each from their savings, launched Tradesala, an e-commerce platform to bridge the gap between customers and sellers.
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India's Rapidly Growing E-Commerce Market A Boon for MSMEs
Business Bytes
·
1y ago
Medial
India's rapidly growing e-commerce market is proving to be a boon for Micro, Small, and Medium Enterprises (MSMEs). With a rapidly expanding internet user base and increased smartphone adoption, e-commerce platforms are providing new sales channels and expanding the market reach for MSMEs. The COVID-19 pandemic has further accelerated the adoption of e-commerce, as lockdowns and restrictions forced businesses and consumers to shift to online shopping. This presents significant opportunities for MSMEs to thrive in the digital age and compete effectively in the evolving e-commerce ecosystem.
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Swiggy Launches Co-Branded Credit Card With HDFC Bank
OutlookIndia
·
1y ago
Medial
Swiggy, the e-commerce platform, has collaborated with HDFC Bank to introduce a co-branded credit card. The card aims to offer customers exclusive benefits and rewards for transactions made on the Swiggy platform. It will offer 10 per cent cashback on Swiggy and 5 per cent cashback across 1000 e-commerce platforms
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StanChart’s investment arm agrees to sell Solv to Jumbotail
VCCircle
·
3m ago
Medial
Standard Chartered’s investment arm, SC Ventures, has agreed to sell Solv India to Jumbotail, a B2B marketplace. The acquisition aims to create a multi-category B2B e-commerce platform serving small retailers and MSME entrepreneurs. Solv India offers a digital commerce platform for MSMEs, while Jumbotail focuses on food and grocery digitalization. The deal, requiring regulatory approvals, involves Jumbotail co-founders leading the combined entity, and SC Ventures joining Jumbotail’s board.
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Bigbasket launches SaaS platform BB Matrix to help legacy businesses enter the e-commerce space | Mint
Livemint
·
12m ago
Medial
Bigbasket has launched a software-as-a-service-based supply chain platform called BB Matrix to assist e-commerce companies in managing their supply chains and operations. It aims to offer three SaaS products - a warehouse management system, a transportation management system, and an order management system. The platform will help legacy brands transition into the e-commerce space and target mid-to-large-stage companies in industries like omnichannel retail and manufacturing. Despite increased competition in the e-commerce industry, Bigbasket believes there is ample market potential for its new business vertical.
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TikTok launches online shopping in the US
Economic Times
·
1y ago
Medial
TikTok has launched its e-commerce business in the United States, following months of testing. The social media platform is integrating shopping features into its main app, allowing users to view videos and live streams with links to purchase items. TikTok is also providing tools for content creators, brands, and merchants to create shoppable content. The platform introduced a shop tab, enabling businesses to display products with logistics and payment solutions. TikTok has integrated its shopping service with third-party platforms like Shopify, Salesforce, and Zendesk. This move aims to capitalize on the platform's popularity and replicate the success of Asian e-commerce platforms like Shein and Temu.
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Velocity launches Rs 400 Cr festive season fund for D2C brands
Entrackr
·
10m ago
Medial
Cash flow-based financing platform Velocity has launched a fund of Rs 400 crore ($48 million) to support D2C and e-commerce brands in the upcoming festive season sales. The Bengaluru-based firm had launched a Rs 250 crore fund for the festive season last year. This financing will support brands and sellers on major e-commerce platforms (such as Amazon, Flipkart, Myntra and Shopify) and new-age quick commerce platforms (like Blinkit, Instamart, Zepto) in enhancing their product assortment, accelerating delivery timelines, and capitalize on emerging trends such as premiumization. The fund will allow brands to invest in inventory, marketing, and operational expenses without diluting their equity, Velocity said in a press release. According to market research, e-commerce sales are projected to see 20% growth in the 2024 festive season as compared to 13% growth in e-commerce GMV (gross merchandise value) last year. Velocity is indulged with the largest ecommerce marketplaces and several ecosystem enablers to support the upcoming festive demand across sectors such as beauty and personal care, apparel/ fashion, consumer electronics, food and beverages, home, garden and kitchen, jewelry and accessories, healthcare and other e-commerce categories. Co-founded in 2020 by Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop, Velocity focuses on democratizing access to working capital for the various sectors. The platform leverages digital-first businesses’ data and online cash flows to offer innovative financing solutions. It provides non-dilutive debt financing to e-commerce founders. Velocity says that it has leveraged its partnerships with India’s leading NBFCs and regulated entities to empower over 1,500 e-commerce brands like Koskii, Power Gummies, Hammer, Bella Vita Organic, Bewakoof, Bunaai, Leaf, Crossbeats, Blaupunkt, Zlade, and Soulflower among others. It also says that it has disbursed over Rs900 crores, enabling over 1,500 businesses, especially D2C and e-commerce companies. Velocity has raised $30 million in equity funding led by Valar Ventures and competes with the other players in this space like GetVantage, Klub, Clearco, CRED Mint, Wayflyer, and KredX.
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How the Meta-ONDC Partnership Will Enhance Small Businesses
StartupTalky
·
1y ago
Medial
Meta and the Open Network for Digital Commerce (ONDC) have partnered to support micro, small, and medium enterprises (MSMEs) in India. The collaboration aims to provide MSMEs with the necessary tools, resources, and digital skills to compete effectively in the online marketplace. This includes leveraging Meta's communication tools, such as WhatsApp, to enhance conversational experiences and provide personalized customer interactions. Additionally, both Meta and ONDC plan to offer digital upskilling programs through the Meta Small Business Academy and technical support for businesses integrating onto the open network. The partnership has the potential to revolutionize e-commerce for MSMEs, increase revenue and customer base, and create job opportunities.
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Paytm app launches auto-rickshaw booking feature via ONDC
Economic Times
·
1y ago
Medial
Paytm, the fintech platform, has introduced an auto-rickshaw booking feature on its app in collaboration with the government-backed Open Network for Digital Commerce (ONDC). The service is currently available for select users in the National Capital Region, Bengaluru, and Chennai. The feature is provided by Pai Platforms, backed by Paytm CEO Vijay Shekhar Sharma. ONDC has seen higher volumes in mobility compared to ecommerce, with over 37 million trips completed and 6.3 million registered users. Paytm is among several companies exploring ONDC for commerce and mobility services.
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IndusInd Bank launches digital banking platform to empower MSMEs
Economic Times
·
15d ago
Medial
IndusInd Bank has launched 'INDIE for Business,' a digital banking platform aimed at empowering MSMEs in India. The platform offers comprehensive banking services, including payments, loans, collections, and account insights, and targets reaching over 60 million enterprises in the MSME segment. It features a 360° view of business accounts, real-time loan tracking, digital self-onboarding, and enables tax payments. The platform aims to simplify banking and provide financial control for MSMEs.
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Shiprocket launches multimodal AI model Shunya.ai - The Economic Times
Economic Times
·
5d ago
Medial
Shiprocket has launched Shunya.ai, a multimodal AI platform designed for MSMEs and D2C businesses in India. Supporting multiple Indian languages, Shunya.ai aims to enhance cataloging, marketing, and customer service, targeting over 100,000 MSMEs in its first year. By embedding the platform in Shiprocket's seller panel, users experience increased automation and efficiency. With India’s D2C market projected to reach $100 billion by 2025, Shunya.ai promises significant time and cost savings for businesses.
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