Yodacart Raises $225,000 In Seed Funding The company plans to utilize the funds to enhance its platform, expand product categories and scale nationally
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Yodacart, an e-commerce startup, has raised pre-Seed funding of $225,000.
Yodacart specialises in last-mile logistics and same-day delivery and support. The platform helps in decision making on the purchase of consumer electronic products through Artificial Intelligence (AI) and Machine Learning (ML).
The current online penetration in appliances is merely two to three per cent and Yodacart aims to drive it up to 10 per cent. The funding will further enable it to reinforce its tech offerings and expand its presence in the Indian market. With an existing presence in Maharashtra and covering more than 350 SKUs, the company plans to utilize the funds to enhance its platform, expand product categories and scale nationally, growing its services by 50 times within the next year, said a statement.
"So far, our specialisation has primarily been in five consumer electronics categories, including air conditioners, televisions, washing machines, refrigerator and water purifier. Through this funding, we aim to further enhance the user experience for our customers, expand operations on a country-wide scale and deliver efficient and easy solutions for the evolving customer of today," said Vikas Sharma founder and CEO of Yodacart.
Founded in 2019, Yodacart originally began as Adofix, a last-mile logistics company for large consumer and commercial appliances, serving the areas of Mumbai, Navi Mumbai and Thane. As sales increased and revenues spiked, the founder quickly noticed a vast gap in consumer expectations while shopping, delivery, post-purchase customer expectations and actual ground reality. In 2020 he started laying the foundation for an immersive hyper-personalized customer-centric, easy to use platform, which intuitively helped customers find the right product for their unique requirements. The company will be making its foray into Pune in January 2022, with further plans to expand to Delhi and Gurugram, later in the year, added the statement.
