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E-commerce startup Coutloot joins ONDC to democratise e-retail

E-commerce startup Coutloot

E-commerce startup Coutloot and ONDC to democratize e-retail

E-commerce startup Coutloot – The largest non-grocery retail aggregator for unbranded goods in India, Coutloot, has joined the Open Network for Digital Commerce (ONDC), a government-sponsored project to foster open e-commerce.

Small businesses are expected to gain from ONDC’s democratization of e-commerce platform, which aims to provide open access to all users and better business tools.

Given that just around 0.12% of the estimated 12 million mom-and-pop shops in India are currently technologically enabled, this gains significance. Furthermore, only 4% of India’s $800 billion retail business is thought to be accounted for by e-retail.

The most recent change would enable Coutloot vendors to access the ONDC platform, giving them access to a larger market.

Additionally, the relationship is anticipated to be advantageous to all parties involved in the initiative and to advance ONDC’s mission of supporting open networks for all facets of commerce over digital or electronic networks.

“We are collaborating with ONDC in an effort to improve our customer outreach. Customers can discover us on the ONDC platform starting in December of this year. With product categories including fashion, home, beauty, and personal care, we will launch in two stages: first with vendors and subsequently with customers. The goal is to significantly increase the penetration of eCommerce in India, according to Coutloot cofounder Jasmeet Thind.

E-commerce startup Coutloot

Thind claims that Coutloot will be able to give sellers options for going online, let retailers and merchants set their own terms and conditions, make it possible for buyers and sellers to be found outside of the confines of big e-commerce platforms, and give opportunities to small e-commerce players to get around supply chain obstacles.

By eliminating the agents from the system, Coutloot, founded by Thind and Mahima Kaul, has linked millions of sellers and merchants with small and medium manufacturers.

By the way, Coutloot has helped over seven lakh small enterprises and street vendors boost their consumer base and profit margins.

The Mumbai-based start-up is one of the nation’s fastest-growing non-grocery retail aggregators, enabling online commerce and gathering wholesale applications to let more than 5000 SKUs choose products from 240 SMEs dispersed around India.

Investors such as Ameba Capital, 9Unicorns, Venture Catalysts, SOSV, and Astarc Ventures have contributed more than $12 million to the startup so far.