EasyEcom, a startup which enables businesses to take up the eCommerce route, has raised around ₹1 crore in its angel funding round. The funding was raised from leading industry executives as well as early-stage investment firms.
The funding comes from Ambarish Gupta, founder and CEO of Knowlarity Communications; Aneesh Reddy, CEO of Capillary Technologies; Bold Ventures, a fund now merged with 500 Startups; and US-based angel fund Vona Investments.
The newly infused capital will be used by the company to accelerate its customer acquisition efforts and scale its international business.
Punit Gupta, who is the co-founder of the company, said:
Brands love the analytics related to payouts and their margins, and that is our USP. This is a vast domain and we don’t want to build everything from scratch, and hence, we have a great partnership network including Zepo, KartRocket, Shopify, Capillary, Tally, Quickbooks, etc. The market is very favourable to us, especially with the GST rollout. Having a business model with over 70% gross margin, we should be hitting our break-even point within the next 12-15 months.
EasyEcom was founded in February 2014 by Punit Gupta, Jitesh Advani and Swati Jindal. The startup’s omnichannel solution helps companies sell on multiple platforms through analytics. The solution offers ready integrations with major e-commerce platforms such as Flipkart and Amazon, web storefront providers such as Shopify, Zepo, and StoreHippo, and logistics providers such as Delhivery and Bluedart.
The company’s flagship product — EasySoft Plus helps companies sell products on all major marketplaces from one unified dashboard. It provides visibility for full inventory on all marketplaces in real-time with centralised sync, manages aggregated businesses for multiple vendor sub-accounts from one master account, and enables smart product listings.