Infibeam Avenues Ltd, India’s leading listed fintech company, has made a strategic investment by picking up 50% stake in a Gurgaon -based software startup, Vishko22 Products & Services Pvt Ltd, to develop omnichannel enterprise software products and services with seamless integration with domestic and international eCommerce marketplaces.
Vishko22 will target to tap the growing demand for omnichannel enterprise software solutions from B2B eCommerce players in India and globally, focusing on providing customized software solutions that allow unifying & synchronizing online & offline businesses.
Omnichannel enterprise software provides businesses with the means to create a seamless buying experience for their customers and offers a unified platform that contains all the necessary tools to run multiple channels via an eCommerce website, mobile apps, in-store and social media.
Modern businesses can easily combine online and brick-and-mortar channels, which are typically run very differently and, in the long run, can build capacity to maximize potential customers’ touchpoints and minimizes potential backend efforts due to digital automation via omnichannel enterprise software.
“It’s a strategic investment to cater to the growing demand for omnichannel software with existing suite of e-commerce offerings,” said Vishal Mehta, Managing Director, Infibeam Avenues Ltd, adding that the company will continue to make more such strategic investment in technology startups in next 12 months.
Since inception, Infibeam has made multiple acquisitions and investment in technology & fintech companies. Recently, in March, Infibeam Avenues Ltd acquired Bengaluru-based fintech startup, Uvik Technologies for Rs 75 crore in cash and stock deal.
Elaborating on the strategic investment, Mr Mehta says, “Unification of both online & offline businesses has been a challenge for many suppliers, retailers and brands. To address this unmet need and tap the growing omnichannel market in India and globally, we decided to invest in omnichannel software” said Mr Mehta.
The global retail omnichannel commerce platform market was $5 billion in the year 2020 and was projected to reach $16.9 billion by the year 2027, growing at a CAGR of 16.4%. And eCommerce, one of the segments in the omnichannel commerce platform market size, is projected to grow at a 16.8% CAGR to reach $9.9 billion by 2027, which was further revised to 11.5% CAGR after analyzing the impact of the pandemic.
Talking about the potential competitors, Mr Mehta said, “There might be companies providing standalone omnichannel solution as a product, but there are no players in India, as per our knowledge, that provide a Scalable and integrated e-commerce Marketplace with omnichannel solution under one roof.”
He further pointed out that the startup Vishko22 will be targeting the eCommerce players as they have scalable models and have an unmet need for digital solutions specifically designed to accommodate or unify online & offline business formats.
The core software team of Vishko22 includes technology leaders, participation from techies from prestigious institutions and Sandeep Sharma, an alumnus of IIT Delhi and IIM Bangalore. Vishko22 was founded by two seasoned entrepreneurs, Neha Sharma and Shweta Gaur, both ex-cofounders of eCommerce marketplace Yepme. Both founders have gained immense experience and knowledge during their stint as e-commerce entrepreneurs.