Other Private Equity/Strategic Investments
IndiaMART acquires 26% stake in inventory mgmt SaaS startup EasyEcom for Rs.13.3 Cr
Publicly listed, Noida-based B2B e-online marketplace IndiaMART has invested about INR 13.35 crore (via its wholly-owned subsidiary Tradezeal Online Pvt Ltd) to acquire a 26.01% stake in Bengaluru-based enterprise software firm Edgewise Technologies. IndiaMART will acquire 4,784 Compulsorily Convertible Series A Preference Shares and 100 Equity Shares in the target company. Edgewise – which operates under the brand name EasyEcom – offers AI-driven omnichannel inventory and warehouse management solutions to merchants. Its solutions allow merchants to allocate, track and reconcile inventory across various online and offline sales channels. It reported a turnover of INR 2.2 crore for FY21 (double of that in the previous fiscal). EasyCom will use the new funds to strengthen its technology and invest in marketing and expansion activities.
From the Venture Intelligence Angel Investments Database: In Dec-17, EasyEcom had raised $150-K from Ambarish Gupta, CEO of Knowlarity Communications, Aneesh Reddy, CEO of Capillary Technologies, and others.
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