B2B Cross-Border Food Sourcing Platform ONWO Raises Funding
ONWO (One World), a Bengaluru-based B2B ecommerce platform, has raised $1.6 Mn in a seed funding round led by Kae Capital.
The funding round also saw participation from Whiteboard Capital, 2am VC, Kettleborough VC, Climber Capital, Point One Capital, Mekin Maheshwari, Srinivas Anumolu and other angel investors.
As per the startup, the raised funds will be used to expand its team and enhance its platform.
ONWO | Borderless Commerce For Food
Founded by Bipul Kumar in July 2022, ONWO is a B2B digitally enabled food export platform where businesses can source high-quality commodity and packaged food products from verified suppliers in India.
It operates a curated marketplace to discover, transact and fulfill orders of processed food products from Indian manufacturers.
Speaking on the development, Bipul Kumar, Founder and CEO of ONWO, said,
“India is one of the biggest producers of food staples. However, most of these are traded from India as a commodity with little to no value add. With processing infrastructure steadily maturing in India, we are at an inflection point of becoming the processing superpower. 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.”
Offering end-to-end solutions to its customers in a full-stack digital model, ONWO runs its operations in the markets like- the US, Canada, Qatar, UAE, Saudi Arabia, and Oman. The Bengaluru-based startup claims to export more than 10,000 metric tonnes of food products, with a repeat rate of over 90 per cent. As per the startup, it has covered over 15 countries with its services.
Commenting on the development, Gaurav Chaturvedi, Partner at Kae Capital, said,
“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. Bipul and the ONWO team come with the right experience to build a suitable solution for this large opportunity, and we’re very excited to partner with them.”
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