Bangalore-based startup EasyEcom has raised $150K in its angel round of funding from top tech industry executives and early-stage investment funds. The company got funded from Ambarish Gupta, founder an, CEO of Knowlarity Communications; Aneesh Reddy, CEO of Capillary Technologies; Bold Ventures, a fund now merged with 500 Startups; and US-based angel fund Vona Investments.
The fundraising was syndicated by Bangalore-based investment banking firm DIA Capital Advisors from multiple investors.
Commenting on it, Nishant Navin, founder and managing partner of DIA Capital Advisors, said:
This transaction validates the fact that there is a strong interest in omni-channel technology startups. It will facilitate attractive returns on the capital employed owing to the huge surge in demand for omni-channel technologies, proven markets, and differentiated offering.
On the investment, Ambarish Gupta, CEO, Knowlarity, said:
EasyEcom has the potential to join the league of successful SaaS enterprise companies. The team has great command over their market and knows how to aggressively capture majority market share without blowing millions of dollars like many other startups are seen to be doing these days.
EasyEcom was founded in February 2014 by Punit Gupta, Jitesh Advani and Swati Jindal. Gupta and Advani are alumni of IIT Guwahati. Owned and operated by Edgewise Technologies Pvt Ltd, EasyEcom helps brands manage their omni-channel business through analytics. The company targets mid to large retail enterprises in India and globally.
Commenting on the company, Punit Gupta said:
Brands love the analytics related to payouts and their margins, and that is our USP. This is a vast domain and we don’t want to build everything from scratch, and hence, we have a great partnership network including Zepo, KartRocket, Shopify, Capillary, Tally, Quickbooks, etc.
He further added that:
The market is very favourable to us, especially with the GST rollout. Having a business model with over 70% gross margin, we should be hitting our break-even point within the next 12-15 months.
The company’s omnichannel solution helps companies sell on multiple platforms through analytics. The solution offers ready integrations with major e-commerce platforms such as Flipkart and Amazon, web storefront providers such as Shopify, Zepo, and StoreHippo, and logistics providers such as Delhivery and Bluedart.
Its flagship product EasySoft Plus helps companies sell products on all major marketplaces from one unified dashboard. It provides visibility for full inventory on all marketplaces in real-time with centralised sync, manages aggregated businesses for multiple vendor sub-accounts from one master account, and enables smart product listings.
It’s other services include historic reconciliation, invoice level audit, pending returns tracking and accounting.
The company is expected to use the raised funds to accelerate its customer acquisition efforts and scale its international business