Started by young IIT Bombay graduate, Omnikart is an e-commerce platform providing an end-to-end solution for all sorts of industrial and office supplies needs. The portal manages entire process of procurement and delivery thus helping customer and vendors minimise their efforts.
Omnikart is a startup by a bunch of ex-IITians who aims to solve the procurement problem existing in the Indian industrial market. Presently omnikart.com operates with 30+ product categories and over 75,000 products from well-reputed brands.
The idea came up when one of the founders started facing problems while sourcing products for his experiments. Sensing an opportunity to bridge the gap, the founders formed Omnikart. The company was formed to cater to educational institutes with their lab related equipment. Later, sensing the huge market demand, founders decided to jump into the industrial and office supplies. According to a report by Walmart, India’s B2B e-commerce market opportunity is currently valued at $300 billion, which is expected to expand to $700 billion by 2020.
Talking about the initial days, Faisal Ansari, Co-founder & CEO, Omnikart.com, says, “We also had our share of challenges. Initially the manufacturers and dealers were hesitant to give us their product for listing. They had never imagined that industrial equipment could be sold over the Internet. But a lot has changed in a short period of time.”
The Mumbai-based company currently ships products in Mumbai and within a span of 8 months it has shipped 3000 products with average ticket size of Rs 3000. Omnikart recently raised angel round of funding from Willfly Ventures and is now looking to expand to other manufacturing destinations. The investment will be used for expanding the product portfolio, introducing new features, enhancing brand visibility and hiring talents.
“The industrial B2B segment is highly fragmented and unorganised. There are many layers between manufacturers and buyers, we are working towards bridging this gap and eliminate the middleman thus bringing transparency, making product cheaper and the delivery hassle free. In short, we want to make the industrial purchase smooth and hassle-free,” adds mandar Zope, Co-founder & CTO, Omnikart.com.
The company also provides technical assistance to the customers in selecting the right product as per their requirement and operates in both b2b and b2c manner.
Going forward Omnikart is looking to raise seed round of funding in the next 3 months. The company competes with well-established players like Alibaba, tolexo.com and industrybuying.com, but Faisal and his team consisting 25 young member are confident that their new features will set them apart from the existing players. Omnikart is looking at increasing their manpower to 40 in the next 2 months.