– SucSEED Invests in Eunimart
– A complete AI enabled end-to-end omnichannel trade and commerce management platform for Small and Medium Enterprises (SME) selling globally
HYDERABAD, India, Sept. 19, 2019 /PRNewswire/ — SucSEED venture partners invests into Singapore listed, Eunimart Crossborder Private Limited, to expand its horizon into e-commerce segment. Eunimart’s Vdezi product enables SMEs to sell globally with ease. Eunimart provides Merchants access to cross-border markets and channels of sales; support in the form of shipping, warehousing, payments etc; operational efficiency through tools such as PoS, WMS, Pricing Mgmt., cataloguing, Orders & Inventory Mgmt, global shipping management, returns management, e-fulfilment and data-driven intelligence & decision-making around products, markets, competition and sales using AI.
Shayak Mazumder, co-founder of Eunimart, said, “The world has shifted from a straight line value chain to a circular mesh value chain where everyone is connected to everyone and our value is not limited to what we create alone. Today, the more value we add to our ecosystem, the more valuable we become. By adding value to every stakeholder, we seek to empower the ecosystem globally and become synonymous with supply aggregation and SME enablement across the globe.”
Commenting on the fund raise, Archana Shah, co-founder of Eunimart, said, “SucSEED has helped Eunimart not only with the capital that is needed to continue our work in researching and developing one of the most cutting-edge products in this space in the world, but the large pool of Domain Leaders & Technology Experts in SucSEED will help us resolve various Business Problem statements with appropriate technology. We believe cutting-edge technology products can be created from India with the right support and SucSEED Venture Partners, formed by Senior CXOs and Technology experts, can help us just do that.”
Speaking on why have they invested in Eunimart, Ram Gollapudi, an Active Investor, with SucSEED, said, “The business model & ecosystem has global potential and high scalability. Eunimart’s AI enabled platform is developed on the strong foundation of deep domain expertise acquired through servicing 300 customers manually across 40 countries. As the platform is scalable, when it gets extended to merchants in other countries, the Eunimart business is bound to see an exponential growth in this $550Bn market opportunity. The passion of Eunimart co-founders and the team offers unique service proposition to the merchants, which has attracted us as investors.”
Speaking on this investment further, Vikrant Varshney, Co-founder & Partner, SucSEED, said “Eunimart provides one stop e-commerce solution to sell Anywhere, Anytime. This offers a huge potential for SME’s in India like handicrafts, handlooms, Jewellery merchants, SME companies aspiring for exports, to reach global markets, grow their revenues and margins with ease. Crossborder e-commerce is $550Bn market growing at 17% CAGR. It is supposed to reach $1Tn by 2021. We are also excited about entering into this new domain that will give us an opportunity to explore synergies with other Startup companies that we have already invested into.”
Eunimart, instituted in 2016, helps SMEs to sell their products globally through cross-border e-commerce. The platform provides merchants access to 18 marketplaces,10 shipping partners, 2 payment partners, warehousing options etc. across 84 countries. Eunimart brings all these platforms on one dashboard and automates all the functions so that SMEs do not need highly technical staff, months of preparation or heavy losses in selling overseas. AI tools help merchants with cataloguing automatically, pricing of products, image and content optimisation, portfolio optimisation, understanding of competition, sales prediction etc. Eunimart won a number of recognitions and awards like prestigious Nasscom Product Conclave (NPC) Top Product award & Google Hi Po. Also showcased at the Global Entrepreneurship Summit & INSEAD case studies.
For more information, please visit: https://vdezi.com
Problem(s) that Eunimart is addressing:
Cross-border e-commerce is a very lucrative business as it allows sellers to access greenfield markets where demand is high and unit order economics are better, generate higher GMV, higher marginsand improve brand recognition.
However, there are several challenges that are faced in this business:
- Inability to access the markets. Most SMEs do not have the ability to access the markets where there is a demand for their products. As such, these are bought by large scale buyers at a low cost and sold for a premium.
- Inability to access marketplaces. Most top ecommerce marketplaces are not equipped to handle international sellers directly due to logistics, payments, currency, compliance and customer satisfaction related issues.
- Complete opacity of the processes and best practices. Sellers are unaware of the processes required to sell globally, such as logistics – shipping methods, minimum values, volumetric weight, mode of shipping out and incoterms; Payments – best payment partners, local payment norms and hidden costs; marketplaces – costs, taxes, customer preferences, highest selling categories, SEO optimization, translation, etc.
- Lack of Data and visibility on how to become a top seller. Most SMEs do not have actionable data on their products to understand the details of pricing, content, competition, marketing etc.
Cross-border exports are traditionally driven by large scale exporters and distributors who buy in bulk and sell through local distributors to the end customers, thereby keeping the margin with them. Eunimart is thoroughly disruptive in how it works through a combination of data driven insights, sound operational platform, special arrangements with marketplaces and flexibility of use, to give the advantage back to the original sellers and disrupting the value chain of exports. Also, addresses regulatory challenges. This results in 1.5x drop in end prices, Greater sales (2x-3x), 50% saving in logistic cost & 20% saving in overall operational costs, higher margin per order for the original sellers/manufacturers
About the market Potential in that space:
Crossborder e-commerce is $550Bn market growing at 17% CAGR. It is supposed to reach $1Tn by 2021. There are very few companies addressing this rather large market systematically through advanced technological support and data.
- Shayak Mazumder, CEO,https://www.linkedin.com/in/shayakm/
- Archana Shah, COO,https://www.linkedin.com/in/contactarchanashah/
- Serguei Netessine, Advisor & Investor, https://www.linkedin.com/in/serguei-netessine-3045332/
- Gabriel Szulanski, Advisor, https://www.linkedin.com/in/gabriel-szulanski-7958258/
- Neelabh Singh, Advisor,https://www.linkedin.com/in/neelabh-singh-b465863/
About SucSEED Venture Partners
SucSEED Venture Partners, founded in 2016,is one of the fastest growing Angel Network, with a combination of CXO level Corporate Professionals, Technology Angels, Business Leaders and Serial Entrepreneurs, who have come together to fuel the growth of Indian Startup System at early stage, with provision of growth capital, organizing access to market and Business mentoring. SucSEED’s Investment Strategy is primarily targeted at Growth stage in post revenue startups involved in “Innovation for Mass” or Use cases with real problem statements using emerging Technology.
SucSEED has been investing in Fintech, Edtech, Real-estate Technology, HR Tech & Expert Network, Enterprise SAAS, Analytics space primarily, but also open to support in other areas. SucSEED facilitates & raise seed funding through Angel investments and provide support towards Venture Capital to such entities and teams. SucSEED’s investment in OckyPocky, XploraBox, SRJNAand LetzConnect, helped them complete the EdTech lifecycle from K-12, STEAM to College and beyond through Tapchief, which is rated as Top 3rdStartup by Linkedin. With their Fintech Investments in Paymatrix, Insense, Stockal and two rounds of funding in i2iFunding they have penetration in Payments, Card Analytics, Wealth Management and P2P Lending space in FinTech arena. SucSEED has recently entered into MediaTech & Publishing Space with investment in LeadStart.
SucSEED network comprises of professionals and entrepreneurs who extensively mentor the investee startups. The investors are senior industry leaders with extensive domain knowledge and peer networks, assist in creating a structure to support start-ups and further enhance the ecosystems. Startups will get to leverage the expertise of individual investors who are part of initiative and share their expertise in Sales & Marketing, Finance, Systems and Technology, Risk, Legal & Compliance, Human Resources & training.