Startups in India and other parts of the world have received a lot of recognition in recent years. Thanks to innovation and cutting-edge technology, startups can provide impactful solutions and thus act as a catalyst for socio-economic growth and development. The Indian startup ecosystem has evolved dynamically over the past two decades and currently numbers around 26,000 startups, making it the 3rd largest startup ecosystem in the world. Valued at over $ 1 billion with 26 unicorn startups, the Indian startup ecosystem has grown rapidly, mostly through private investment including SEED, ANGEL, Venture Capital, and private equity firms. It has also received considerable technical support from incubators, accelerators and the government.
ReshaMandi is the first silk startup in India that serves as a business-to-business marketplace for various stakeholders such as silk producers, businesses and retailers across the country. The company aims to digitize the country’s silk supply chain and create an ecosystem for sericulture farmers and silk winders. The company recently announced that it has received approximately $ 30 million in âSeries Aâ funding led by a global alternative investment manager, Creation Investments, Capital Managements, LLC and other investors. Founded by Mayank Tiwari, Saurabh Agarwal and Utkarsh Aproova, ReshaMandi is a startup that offers a complete digital ecosystem, from farm to fashion.
âReshaMandi was conceptualized during my college days when I followed a cluster development program next to Indore. I realized that rural products, which were available at very low prices, were not the same in Mumbai. of how the supply gets to consumers. The idea was not to create a platform but an ecosystem where stakeholders can benefit from the right price, high quality, trust and transparency. Â»Says Mayank, Founder and CEO of ReshaMandi
In its first year of operation, ReshaMandi saw its turnover increase 30 times, making it one of the fastest growing B2B startups in the country. The company is a pioneer in efficient technology, scientific testing, logistics, finance, demand and growth. With an interest in complete supply chain management as a solution, ReshaMandi enables all stakeholders with technological innovations that play an important role in their growth. His intervention and catalysis of corporate income growth ushered in a revolutionary new period for the Indian silk industry. Using its proprietary AI and IoT technology, ReshaMandi provides transparent and cost-effective solutions that streamline the silk industry and empower India in the sericulture industry.