This brings the total funding raised by the startup to $2.2 million to date. Eunimart had raised its seed round last year which observed participation from TMT Connekt, Loyal VC, Angelbay, SucSEED Ventures.
According to the company, it will utilize the freshly acquired funds to expand its sales, partnership, and marketing teams, along with the rapid expansion of the product.
Three-year-old Eunimart enables small and medium enterprises to sell products globally through cross-border e-commerce.
“Eunimart is solving a crucial problem in the world of e-commerce. While there has been a lot of developments on the demand side, very little has been done on 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 over 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 enable merchants with automatic cataloging, pricing of products, image and content optimization, portfolio optimization, 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.
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