Plotch.ai's Role in Expanding India's Retail Sector through ONDC

In just two years since its inception, Mumbai-based Plotch.ai has played a pivotal role in assisting major brands like Paytm, Meesho, and Snapdeal in joining India's Open Network for Digital Commerce (ONDC). With a current $3 million funding round in progress, the startup aims to achieve a revenue of Rs 10 crore by the end of the financial year 2025.

Early Mover in the ONDC Space

ONDC, a government initiative aimed at democratizing ecommerce in India, has garnered attention for over a year and a half. With prominent players like Amazon, Paytm, Marico, and Delhivery already on board, the protocol is anticipated to replicate the success of UPI in the country. Plotch.ai, founded by Manoj Gupta, has emerged as an early mover in this space, providing a software-enabling platform for brands aspiring to join ONDC.

Plotch.ai's Mission and Approach

Manoj Gupta, co-founder of Craftsvilla, embarked on building software for ONDC aspirants in April 2021. Plotch.ai facilitates the entry of digital companies into the open ecommerce network by offering technical support in the form of a tech stack for both buyers and sellers. The platform's three main components—an application layer, middleware, and a network layer—play distinct roles in the ONDC ecosystem.

Business Strategy and Funding

Plotch.ai raised an undisclosed pre-seed funding in July, led by Antler India, with participation from Peak XV Partners and Global Founders Capital. Gupta draws optimism from his experience with Craftsvilla, emphasizing that ONDC has the potential to dramatically shift the ecommerce landscape in India from its current 5%-6% to a targeted 50%-60% of total retail.

Onboarding Process and Growth Plans

The Mumbai-based firm aims to onboard 50 clients by the end of FY24 and 200 by March 2025. Plotch.ai's revenue model includes a one-time setup fee, an annual maintenance contract, and a transaction fee on every order fulfilled by a brand using its support. The company plans to raise $3 million to expand into new categories like insurance, lending, and mutual funds.

Outlook on ONDC and India's Ecommerce Potential

Gupta is bullish on India's ecommerce potential and believes that enterprises must join the ONDC movement to realize the vast opportunities it presents. Plotch.ai's mission is aligned with this vision, providing external software solutions to brands exploring the diverse possibilities within the ONDC ecosystem, from insurance to mobility.

Conclusion

As Plotch.ai continues to pave the way for brands to seamlessly integrate with ONDC, its efforts signify a push towards expanding India's retail sector and contributing to the transformation of the ecommerce landscape in the country.