Bengaluru based digital distribution Platform as a Service (PaaS), OneCode annouced on 25th August 2020, that it has received an undisclosed amount in a seed funding round. The round was led by WaterBridge Ventures, which is an early-stage venture capital firm.
Other participants of the funding round include Angel investors like Founder of Haptik Aakrit Vaish, Appyhigh founder Venus Dhuria, Co-founders Siddharth Mohan and Rocky Mohan of Old Monk and Gourmet Passport game, Apaksh Gupta who’s the founder of One Impression and former Times Internet chief strategy officer Miten Sampat.
The startup claims to utilize the finance to strengthen technology, expand its customer base and recruit talent.
OneCode previously secured angel funding from the founders of Dineout, which is a dining out platform owned by Times Internet, part of the Times Group that also publishes the newspaper.
Founded by Yash Desai and Manish Shara, OneCode connects new-age digital-first brands with its network of sellers in order to sell their products & services to not so tech-savvy users in tier-2, tier-3 and tier-4 towns.
The sellers act as a bridge between the customers and brands who seek in-person interaction, training and physical touchpoints to purchase online goods or services and earn referral revenue on each transaction.
Manish Shara, Co-founder of OneCode commented, “OneCode will appeal to brands trying other modes of selling such as 1-1 assisted sales, replicating the offline buying experience for customers.”
The startup also claims that presently it has a network of about 200K sellers and tie-ups with online brands like Kaya Youth, 1mg, The Man Company, PharmEasy and Dr Vaidya’s. It is also in talks to onboard brands across categories like health, apparel and grooming.
Talking about the investment, Partner at WaterBridge Ventures, Ashish Jain said, “Accessing those segments of the market which have remained inaccessible through the existing digital channels is crucial for brands in general and D2C brands in particular. OneCode is laying down a network of sellers at Ground Zero which will take the brands directly to the doorstep of customers who have never transacted digitally.”
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, OneCode annouced on 25th August 2020, that it has received an undisclosed amount in a seed funding round.){kind=link}
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