E-commerce startup Yodacart raises USD 225,000 funding

Yodacart, an e-commerce start-up by XLRI Jamshedpur student Vikas Sharma, has announced pre-seed funding of 225,000 USD from Ajith Daniel, a New York-based Angel Investor. Incidentally, Ajith is also an XLRI alumnus. Yodacart deals in in last-mile logistics and same-day delivery and support through Artificial Intelligence (AI) and Machine Learning (ML).

"With an existing presence in Maharashtra and covering more than 350 SKUs, the company plans to use the funds to enhance the platform, expand product categories, and expand nationally, growing its services by 50X within the next year. As part of the funding investment, Yodacart will also receive support from two portfolio companies headed by Ajith Daniel," a company statement said.

Speaking about the funding, Ajith Daniel, said, “Yodacart has a keen understanding of the ground realities in this dynamic space. Having gotten their hands dirty over the last few years, they have poured their learnings into this unique platform and customer-centric approach. Their revenue growth over the last few years instils confidence in their capabilities to transform the way consumers purchase electronic products and enhance their post-purchase experiences. Through this investment, I expect Yodacart to further enhance and deliver highly personalised and simplified product discovery solutions for its customers, fundamentally transforming customer experience”

Founder and CEO of Yodacart, Vikas Sharma, said, “So far, our specialisation has primarily been in five consumer electronics categories, including Air Conditioners, Televisions, Washing Machine, 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.”

In addition, the company will be launching in Pune in January 2022, with further plans to expand to Delhi and Gurugram, later in the year, as per a company statement.