Start-up plays ‘capacity’ matchmaker

Bridging a gap:Many big units are idling capacity even as smaller firms languish, says Shareconomy’s Desai.Reuters

Bridging a gap:Many big units are idling capacity even as smaller firms languish, says Shareconomy’s Desai.Reuters  

Shareconomy, a start-up, is offering to bring together industries looking for spare capacity and units that are willing to rent out their unutilised capacity.

The fledgling venture has already triggered interest among corporate bigwigs and the micro, small and medium enterprise (MSME) sector as well.

“It is a B2B aggregator which is connecting industrial capacity with potential capacity seekers,” said chairman Jayesh Desai.

The start-up is based out of Pune with regional offices in Mumbai, Delhi, Bengaluru, Surat, Kolkata and Hyderabad.

The Rajhans Group, owned by the family of the Desais and Jains, is promoting this e-commerce venture and has so far pumped inRs. 25 crore. Shareconomy is currently working with companies across a gamut of sectors such as automobile, engineering, garment, food, pharma, electronics and FMCG. Its clients include multi-segment conglomerate ITC, Chitale Dairy, Sangli, a chain of food and beverage companies, Schmeken Agro Food Products, Chennai, Global Consumer Products, Karnataka, and three mechanical engineering companies including Top Gear Transmission Pvt. Ltd., and Kapil Corepack Pvt. Ltd.

“We took two years to form the company, and put in place the technology tie-ups ... formally launching two months back.. but the response has been good and we have about 208 companies registered with us,” Mr. Desai said.

Want of capacity

“We have found that due to lack of demand or even other constraints, many big units were idling their capacity, even as other companies [smaller firms] in the same sectors, especially medium, small and micro enterprises, were languishing for want of capacity. Frequently they were unable to raise funds to expand capacities and remained hamstrung even when their was demand for their products,” Mr. Desai said, adding that this segment was a major target for Shareconomy.

“MSMEs registered with Shareconomy need to log onto the website, create an account after which we provide capacity-seekers, a list of capacities to choose from for their required capacities,” Mr. Desai said.

The company is now looking to expand its footprintin Uttarakhand and Himachal Pradesh, Mr. Desai added.

However for now, the company has no need for fresh funds.

Rajhans Group’s 2016-17 turnover stood at Rs. 6,000 crore across five verticals – real estate, entertainment, hospitality, confectionary and textiles.

E-commerce is its latest business.

Recommended for you