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National, 1st April 2024: Venture Catalysts, India’s first integrated incubator and the largest early-stage investment firm, today announced that it has led an undisclosed seed funding round worth for Plotch.ai, the country’s largest ONDC rails infrastructure company, playing a critical role in enabling seamless participation in the Open Network for Digital Commerce (ONDC). With Venture Catalysts and AC Ventures contributing this investment will fuel Plotch.ai’s continued growth and solidify its position as a leader in facilitating ONDC adoption.
Founded by Manoj and Monica Gupta, the visionary minds behind Craftsvilla.com, India’s largest ethnic marketplace, Plotch.ai is built upon a deep understanding of the e-commerce industry. Their comprehensive suite of software products acts as a one-stop shop for businesses of all sizes, streamlining essential processes like transaction flows, payments, and grievance management. This holistic approach ensures a frictionless experience for both buyers and sellers within the ONDC network.
Several key factors solidify Plotch.ai’s position as a frontrunner in ONDC infrastructure. The company boasts the fastest go-to-market (GTM) strategy, enabling businesses to join the ONDC network in a mere four weeks – a significant reduction from the traditional onboarding time of 9-12 months. Additionally, Plotch.ai offers the largest suite of ONDC-specific products, encompassing e-commerce, insurance, payments, CRM, and more, catering to the diverse needs of all ONDC network participants.
Expressing enthusiasm for the partnership, Dr Apoorva Ranjan Sharma, MD & CEO of Venture Catalysts, said, “We are incredibly excited to join forces with Plotch.ai as they spearhead the transformation of e-commerce in India. Their innovative solutions and deep understanding of the ONDC landscape position them perfectly to unlock the network’s immense potential. Venture Catalysts is confident that Plotch.ai will play a pivotal role in democratizing digital commerce for millions of businesses and consumers across the nation.”
Manoj Gupta, CEO, Plotch.ai, echoed a similar sentiment, saying, “This investment serves as a significant validation of our vision for ONDC. We are steadfastly committed to empowering businesses and fostering a thriving e-commerce ecosystem that is inclusive and accessible to all. With Venture Catalysts’ invaluable support, we will accelerate product development, expand our customer base, and play a leading role in building a truly inclusive digital marketplace for India.”
“Technology service providers (TSPs) are catalyzing the growth of ONDC network. Plotch.ai has played a critical role in some of the key launches in the network. We hope to see lot more enablers like Plotch.ai in ONDC network”, said T Koshy, CEO and MD of ONDC.
Plotch.ai’s impressive track record speaks volumes about its impact. The company currently processes close to 1 million transactions every month, experiencing a remarkable 100% month-on-month growth. They have fostered a strong client base that includes leading names like Snapdeal, Meesho, Paytm, Marico, and Bluestar, highlighting their industry credibility. Furthermore, Plotch.ai’s strategic partnership with Google to integrate AI into the ONDC network is a pioneering move that will promote local language adoption and enhance accessibility for rural India. This commitment to innovation has been recognized by ONDC itself, awarding Plotch.ai the prestigious “Best Tech Company” distinction.
With a strategic roadmap focused on achieving 10 million transactions per month within the next 12 months and reaching $100 million in revenue by the end of the decade, Plotch.ai is poised for exponential growth and innovation in the years to come. The funding infusion, led by Venture Catalysts, will primarily be allocated towards product development (70%), customer growth (20%), and client acquisition (10%), solidifying Plotch.ai’s position as a frontrunner in India’s digital commerce revolution.