New-age Reseller Platform OneCode To Raise $6 Million Funding
OneCode, a new age reseller platform in the e-commerce space, is in late-stage talks to raise its maiden institutional funding round from Sequoia Capital’s Surge Ventures and Nexus Venture Partners.
First reported by Entrackr, citing two sources, the VC firms are in the last leg to put in $6-7 million in OneCode, valuing the startup in the range of $20-25 million.
Started by Yash Desai and Manish Shara, OneCode is a new-age affiliate and social commerce platform that connects new-age digital-first brands with relevant sellers. The startup enables them to sell their products and services to trust deficit, less tech-savvy users by building trust through assisted sales and support.
The platform acts as a bridge between brands and the end consumers who need physical touchpoints, in-person interactions, training, push and motivation before buying a product/service.
Backed by increasing internet penetration and digital-savvy customers, the online retail space is growing exponentially in India. A report by Bain & Co stated that India’s social commerce sector could reach $60 to $70 billion in revenue by 2030.
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