Moglix became the 13th start-up from India to get unicorn status in 2021. In a $120 mn fundraiser, six-year-old Moglix has been valued at $1bn. Moglix, founded by IIT Kanpur and ISB alumnus Rahul Garg, caters to 500,000 SMEes. It has 3000+ manufacturing plants across India, UAE, Singapore, and the UK. With a network of 16,000+ suppliers and 35+ warehouses and 500,000+ SKUs, it claims to be the largest e-com platform of industrial goods in India.
Indian business-to-business e-commerce startup, Udaan had raised $280 mn from existing investors — Chinese tech giant Tencent, Lightspeed Venture Partners, DST Global, and new investors — Octahedron Capital and Moonstone Capital. Udaan, a Bengaluru based firm founded in 2016, offers everything from consumer goods to fruits and vegetables is now valued at $ 3 bn. Udaan, to date, has now raised $1.15 bn.
In an article written in ETCIO.com Vibhav Vankayala, Senior Product Marketing Manager, Zoho CRM told about the customer experience trends that emerged during the year 2020. 1) Contact-less customer experience 2) Self-service in B2B 3) Same customer experience from anywhere 4) Customer retention tops over acquisition 5) Value-conscious B2B customer 6) Vertical and segment-specific CX solutions 7) Unexpected innovation in uncertain times.
IBM and Emerald Jewellery have launched Tej — an AI-enabled mobile app to power the B2B business of later in India. The app lets the 200 dealers of Emerald search through a catalogue of over 500,000 designs quickly and navigates the complex ordering process easier. Tej, which runs on iOS and Android operating systems, has not only enabled Emerald Jewellery to redesign the entire buying process of their dealers but also started a zero-touch engagement model.
Jumbotail has raised $11 mn in a round led by Canadian venture capital fund Heron Rock. Jumbofund, Nexus Venture Partners, Siddhi Capital, Reaction Fund, and Pimpernel Holdings also participated in the round. The online wholesale marketplace for food and grocery has a full-stack B2B e-com model – warehouses, a last-mile delivery, payment/credit platform- and serves over 30,000 stores. The funds will be used to expand operations in B2B and B2C space.
Flipkart has launched a 16-week virtual startup accelerator program ‘Flipkart Leap’, to boost the growth of B2B, B2C Indian start-ups in the following areas: design and make for India, innovation in digi-commerce, tech for the retail ecosystem, supply chain management, and enabling deep tech applications. It will also offer $25K equity-free grant to selected start-ups. Registrations are open now. Applicants should have a working prototype with early adoption metrics.
B2B start-ups PhonePe (360), Signzy (60), Rapid Delivery (500), Razorpay (100), Cashfree (70), Simplilearn, Instamojo have nearly 1500 job openings in product development, business operations, technology, analytics, sales, marketing. Packages start at Rs 10 LPA, and go up to Rs 40-50 lakh. Conversely, Oyo, Curefit, Swiggy, Bounce have fired hundreds of employees. COVID-19 induced lockdown didn’t hurt B2B start-ups as much as it did to the consumer startups.