In a significant development in the start-up scenario, Eunimart the AI powered Ecommerce enabler announced a huge raise of $700k for its Pre Series A round through LetsVenture, 9Unicorns, Loyal VC and Supply Chain Labs . This is a critical turn of events since it amounts to a total funding of $ 2.2 million till date. This is a follow up of the seed round raised in 2020 which had witnessed key players as Sucseed Ventures, TMT Connekt Loyal VC and Angelbay on the scene.
Eunimart is still in its infancy being founded by Shayak Mazumder and Archana Shah in 2017. However it has clients pan India as well as in the Gulf. Helping SME s to sell cross border the company’s AI tools aid 5000+ sellers to sell globally by providing various modes to understand competition, predict sales, provide cataloguing and pricing tools besides helping to develop and optimise content as well as portfolio.
Its current intent is to utilise the funds raised towards expanding sales, and marketing, partnerships, and scaling product in line with growing demand.
In this context , Sunitha Ramaswamy, President, Early Stage, LetsVenture had this to say :“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.”
LetsVenture is a company that has been making the process of fundraising easy, and transparent for both start-ups and investors and bringing value-added products to the market. LetsVenture which is a SEBI-registered Angel Fund AIF has an AUM of over INR 290+crore. In May 2020, LetsVenture Plus was launched. It is backed by significant players such as Accel, Chiratae Ventures, Nandan Nilekani, Ratan Tata, Rishad Premji, Mohandas Pai, Sharad Sharma, Anupam Mittal.
Coming back to Eunimart, which has proven itself time and again in this short span of time, it has helped many in the global e commerce field and aims to make Omni channel sales effortless. The company has integrated more than 25 marketplaces and web stores, can boast of 10 shipping partners and 5 payment gateways globally. Its unfailing AI module has been instrumental in helping sellers to improve and understand their business better using technologies such as GPT3.0.
According to Shayak Mazumder, CEO, From Eunimart, “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 Omni channel 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.”
It is perhaps not wrong to say that the Pandemic triggered a growth in the e commerce sector and today Eunimart is a field player providing SME s with a seamless experience through solutions to tackle complex operations and supply chain management with ease. Eunimart’s vision is to provide a common platform to these SMEs to come and manage their business with ease, in other words to provide them with a one stop solution for e commerce business