Thursday, October 6, 2022
HomeInsightFunding Alert Cross-border B2B marketplace Ensologic raises $520k in seed funding led by...

[Funding alert] Cross-border B2B marketplace Ensologic raises $520k in seed funding led by IAN invests

E-commerce platform Ensologic
E-commerce platform Ensologic

E-commerce platform Ensologic has raised $520000 funding from Indian Angel Network (IAN) and Hyderabad Angels.

This seed funding round was led by angle investors Ajay Upadhyay, Hirren Turakhia and Bikky Khosla of IAN. The company will use these funds for its growth and to bring retailers on its platform.

Ensologic is India’s numero uno cross border consumer goods e-commerce platform. Manufacturers/suppliers of a country can upload their catalogue, buyers in the other country (we’re India focussed) can select and pay for the items they need over a single click on Ensobiz app.

Anil Agrawal, Founder, Ensologic, said, “The Indian retail segment is mainly unorganized, and the key to improving it is digitization, enhancing shopping experiences, and access to a wider range of products. With this funding, we aim to expand our team and enhance our tech layers to manage quality assurance payments, procurement, and services.”

The Delhi-based startup, founded in 2019 by Anil Agrawal, Kunal Jain, Shikha Agrawal, Ensologic is an online marketplace that simplifies sales and distribution of consumer products in India for overseas Brands, Manufacturers or Aggregators.

“With c-commerce going strong, we are still seeing gaps in cross border businesses namely, removing middlemen and, direct payment from retailers to manufacturers. We hope this association with Ensologic will pave a new way of dealing with the cross broader transaction.” Ramana Gupta, Lead Investor at Hyderabad Angels, said.

Given the lack of supply of global products among Indian retailers, Ensologic has provide infrastructure and logistics services apart from technology equipment. The main objective of the company is to increase sales in India and create a great product chain for the customers.

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