Edgewise Technologies Pvt. Ltd, which operates omni-channel e-commerce enabling platform EasyEcom, has raised an undisclosed sum of money in a new funding round from the US-based Amistad Ventures.
Bengaluru-based EasyEcom said in a statement it will use the money to strengthen its platform as well as invest in sales and marketing activities.
Amistad Ventures managing partner Boppanda Ganapathy said the early-stage firm was confident in its investment because of EasyEcom’s ability to allow retail companies to enter various channels without the need for them to invest in their own technology.
“EasyEcom has clearly demonstrated that it’s possible to build valuable companies without having to burn millions,” Ganapathy said.
Bengaluru-based DIA Capital Advisors acted as the exclusive transaction adviser to EasyEcom for the funding.
Amistad had invested an undisclosed sum of money in EasyEcom in November last year. At the time, EasyEcom founder and chief executive officer Punit Gupta said the company would use that funding to enter new regions and boost its product portfolio.
“The market continues to support us as e-commerce is seeing unprecedented growth in India,” Gupta had said at the time.
In December 2017, the firm raised $150,000 (about Rs 1 crore) in angel funding from top tech industry executives such as Ambarish Gupta and early-stage investment funds Bold Ventures and the US-based Vona Investments.
EasyEcom’s omni-channel solution helps companies sell on multiple platforms. Its products include inventory management software, which provides firms with ready integrations with e-commerce channels such as Amazon, Flipkart, Myntra and Paytm, among others.
The second is its reconciliation system, which allows companies to manage the costs of using e-commerce, including shipping fees, marketplace commissions and payment gateway charges.