Venture Catalysts leads funding in prominent ONDC rails infrastructure platform Plotch.ai
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Early-stage investment firm Venture Catalysts, on Monday, said that it has led a seed funding round in Plotch.ai, the country's largest Open Network for Digital Commerce (ONDC) rails infrastructure company.
Plotch.ai's partnership with Google to integrate AI into the ONDC network is a move to promote local language adoption and enhance accessibility for rural India.
The fresh investment (the financial terms were not disclosed) by Venture Catalysts and AC Ventures will fuel Plotch.ai's continued growth in facilitating ONDC adoption, it said in a statement.
“With Venture Catalysts' invaluable support, we will accelerate product development, expand our customer base, and play a leading role in building a truly inclusive digital marketplace for India,” said Manoj Gupta, CEO, Plotch.ai.
Plotch.ai currently processes close to one million transactions every month, experiencing a 100 per cent month-on-month growth. Their client base includes Snapdeal, Meesho, Paytm, Marico, and Bluestar.
“Their innovative solutions and deep understanding of the ONDC landscape position them perfectly to unlock the network's immense potential,” said Apoorva Ranjan Sharma, MD and CEO of Venture Catalysts.
T. Koshy, CEO and MD of ONDC, said that technology service providers (TSPs) are catalysing the growth of the ONDC network.
“Plotch.ai has played a critical role in some of the key launches in the network. We hope to see a lot more enablers like Plotch.ai in ONDC network," said Koshy.
