Eunimart raises pre-Series a subsidizing from LetsVenture, others

CIOReviewIndia Team | Friday, 02 April 2021, 12:07 IST

Eunimart raises pre-Series a subsidizing from LetsVenture, othersOnline seller enablement startup, Eunimart, on Friday stated it has raised $700,000 as part of its pre-Series A funding round from LetsVenture, 9Unicorns, Loyal VC, and Supply Chain Labs.

This takes the total financing raised by the startup to $2.2 million till date. Eunimart had raised its seed round last year which saw participation from TMT Connekt, Loyal VC, Angelbay, SucSEED Ventures.

As per the organization, it will utilize the fresh funds to grow its sales, partnership and marketing teams, along with rapid scaling of product.

Three-year old Eunimart helps small and medium enterprises sell products globally through cross-border e-commerce.

“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 an advanced platform 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," stated Shayak Mazumder, chief executive officer of Eunimart.

The platform which has more than 5,000 sellers, processes over 50,000 orders in a month. The organization has its customers across India and the United Arab Emirates.

The organization's AI tools help merchants with automatic cataloguing, pricing of products, image and content optimisation, portfolio optimisation, understanding of competition, sales prediction, among others.

“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 the 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," stated Sunitha Ramaswamy, president, early stage investing at LetsVenture.