SUMMARY
ONWO’s (One World) secured $1.6 Mn in its seed funding round
Whiteboard Capital, 2am VC, Kettleborough VC, Climber Capital, Point One Capital, Mekin Maheshwari, Srinivas Anumolu and other angel investors also participated in the round
ONWO will use proceeds to expand its team and enhance its platform
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B2B ecommerce platform ONWO (One World) has raised $1.6 Mn in a seed funding round led by Kae Capital.
Whiteboard Capital, 2am VC, Kettleborough VC, Climber Capital, Point One Capital, Mekin Maheshwari, Srinivas Anumolu and other angel investors also participated in the round.
ONWO will use proceeds to expand its team and enhance its platform.
Founded in July 2022 by a second-time entrepreneur and former Flipkart executive Bipul Kumar, the Bengaluru-based startup operates a full-stack food-sourcing platform that helps connect cross-border customers with Indian food manufacturers.
ONWO offers end-to-end solutions to its customers, involving contract manufacturing and private label solutions, quality assurance and risk management and complete fulfilment orders, said the startup.
According to the startup, it enjoys presence in 15 countries including the US, Canada, UAE, Saudi Arabia, Qatar and Oman.
“ONWO is at the forefront of reimagining this transition using a digital-first approach in an otherwise traditional industry. ONWO’s full-stack solution will help Indian manufacturers and SMEs access the global markets in a fully managed and asset-light model,” said Bipul Kumar, founder and CEO, ONWO.
ONWO claims to have exported more than 10,000 MT of food products in the last six months.
Whereas India exported more than $2.14 Bn worth of food products in 2020-21, said the startup, quoting a DGCI&S data.
“ONWO is creating a digitised global food supply chain through contract manufacturing and a structured food export segment, allowing Indian manufacturers to ship processed products to the world,” said Gaurav Chaturvedi, partner at Kae Capital.
In India’s cross-border B2B ecommerce space, it competes with the likes of GenieMode and Suite42.
According to a Statista report, the country’s B2B ecommerce sector was pegged at $5.6 Bn in 2021. The sector is set to become a $60 Bn space by 2025.
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