Visakhapatnam

Start-up takes sellers to a high

Founder of Vizag-based start-up eUniMart Shayak Mazumder along with co-founder Saikat Roy.  

This Vizag-based start-up is creating waves in the cross border e-commerce space in less than a year since its inception.

eUniMart, founded by former naval officer Shayak Mazumder, offers a platform for sellers to manage their catalogue, inventory, orders, logistics and payments at various marketplaces from across the globe. Bitten by the entrepreneurial bug, Mr. Shayak quit Indian Navy in 2014 after serving for over nine years to start a bunch of restaurants in Goa. Later, he went off to INSEAD, Paris, to finish his MBA where he worked for a supply chain firm, heading its cross-border transactions. It was here that 32-year-old Shayak realised the huge potential of cross-border e-commerce and the challenges faced by Indian sellers to reach the global market.

“I saw how Indian sellers struggled to access the global markets in the absence of proper infrastructure in India and a lack of knowledge about logistics, customs clearance and duties payment. There was a big gap and I saw a scope in this space,” said Mr. Shayak. After returning to India, he founded eUniMart along with the co-founders Mahendra Kalkura, Saikat Roy, Siddharth Thandra and Ahmad Bakhiat and registered the start-up in Vizag in May 2016.

Huge potential

According to the World Trade Organisation (WTO), the annual growth rate of global trade has been near about 2.8 % over 2014-2016 and is expected to reach an impressive 3.6 % by 2017 with the total volume mainly driven by the U.S. and China. Currently, global cross border e-commerce is pegged at $300 billion. Industry data states Indian vendors did $2.8 billion sales in 2015.

With a young 33-member team, eUniMart has its offices in Vizag, Hyderabad and Singapore and hopes to be a game changer for India in the cross-border e-commerce space. eUniMart’s co-founders, like Shayak, bring to the company’s board considerable experience having worked in the start-up, e-commerce and logistics sectors of leading companies. The start-up has so far made a total investment of ₹67 lakh to aid its global business and recently raised a fresh round of funding of an undisclosed amount from angel investors. “We are aiming to scale up our operations in other marketplaces across the globe and rope in top sellers like Micromax and other Indian brands within eUniMart. We have already signed up some big brands,” said Mr Shayak. Currently, the firm caters to 14 countries, including Indonesia, Mexico, USA, France and Germany. Going global is an expensive and risky process. eUniMart address it by going for a three-stage process that includes testing waters, introduce brands in top markets globally, online and offline channels and market entry. With over five lakh sellers in India, who are registered with various e-commerce market players, eUniMart’s global services may come as a boon for them to tap into marketplaces, especially in regions like Europe, the Middle East and Southeast Asia. Speaking about his transition from the Defence services to entrepreneurship, Shayak said: “Whether it is serving the Indian Navy or the start-up sector, it is all about passion for work at the end of the day. I enjoyed my stint there travelling across the world. But I always dreamt of becoming an entrepreneur.”

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Printable version | Nov 19, 2020 8:40:18 AM | https://www.thehindu.com/news/cities/Visakhapatnam/Start-up-takes-sellers-to-a-high/article17322209.ece

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