Eunimart Raises Pre-Series A; Totaling $2.2 Million In Investment
Eunimart aims to provide a seamless experience to SME’s by providing solutions that help in handling the channels of sales and corresponding complexity in operations and supply chain.
Artificial Intelligence powered Ecommerce enabler Eunimart today announced that it has raised its Pre Series A round of $700K from LetsVenture, 9Unicorns, Loyal VC and Supply Chain Labs , taking the total funding to $2.2MN till date. The company had previously raised its Seed Round in 2020, saw participation from TMT Connekt, Loyal VC, Angelbay, SucSEED Ventures.
Founded in 2017 by Shayak Mazumder and Archana Shah, Eunimart which counts clients across India and Gulf, helps SMEs to sell their products globally through cross-border e-commerce. The platform which has 5000+ sellers, having processed over 50,000+ orders/month, the company’s AI tools help merchants with cataloguing automatically, pricing of products, image and content optimisation, portfolio optimisation, understanding of competition, sales prediction, etc. The company will use the proceedings towards expanding the sales, partnership and marketing teams along with scaling the product rapidly inline with the growing demand.
Commenting on the fundraise, Sunitha Ramaswamy, President, Early Stage, LetsVenture said “Consumer buying patterns and preferences have changed significantly especially during the pandemic, which has made e-commerce surge and grow at an exponential rate, with majority of them being first-time online Shoppers. With the rising demand, having a smooth supply chain is the key factor here. We are glad to have Eunimart on board who is working towards providing end to end solutions for the business sector to ensure the process of supply chain is maintained without any breaks with the help of advanced technology.”
Shayak Mazumder, CEO, From Eunimart Said “Eunimart is solving a critical problem in the world of ecommerce. While there has been a lot of developments in the demand side, very little has been done in the supply side. We are creating one of the world’s most advanced platforms for merchants to sell anywhere, on any channel of sales, supported by Artificial Intelligence for decision making, robust supply chain management system and omnichannel suite of solutions. We are grateful to have Letsventure, Loyal VC, 9 Unicorns and Supply Chain Labs as our investors in this round. We are looking forward to using the funds raised to support more SMEs in their journey.”
With consumers moving from online to offline mode of shopping owing to the pandemic, with the growing e- commerce in India, Eunimart aims to provide a seamless experience to SME’s by providing solutions that help in handling the channels of sales and corresponding complexity in operations and supply chain. In addition to this, the company will also provide a platform where SMEs can come and manage their entire business end to end without having to worry where to find the next solution.
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