Online seller enablement startup, Eunimart, on Friday said 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 funding 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.
According to the company, it will use 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 an omnichannel suite of solutions,” said 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 company has its clientele across India and the United Arab Emirates.
The company’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,” said Sunitha Ramaswamy, president, early stage investing at LetsVenture.
