Beginning December, the aggregator will launch in two phases, first with the sellers and then with the buyers with product categories like fashion, home, beauty and personal care
Mumbai: CoutLoot, retail aggregator for unbranded non-grocery products, has joined the Open Network for Digital Commerce (ONDC), a Government of India initiative to develop an open network for digital commerce. ONDC is a freely accessible and inclusive platform that aims to democratize e-commerce.
Jasmeet Thind, the co-founder of CoutLoot, said, “Consumers will find us on the ONDC platform from December this year onwards. We will be launching in two phases, first with the sellers and then with the buyers with product categories like fashion, home, beauty and personal care.”
Thind added that by getting live on the platform will allow CoutLoot to offer choices to sellers to be online, allow retailers and merchants to set their terms and conditions, enable discoverability for buyers and sellers beyond large e-commerce platforms and provide opportunities for small e-commerce players to overcome supply chain barriers.
CoutLoot’s sellers will have a wider audience reach. CoutLoot will enlist products received from the ONDC network to enhance buyer engagement and ensure fulfillment in case buyers are unable to find requested products on its platform.
CoutLoot is helping sellers source smaller MoQs (Minimum Order Quantity) and work with smaller working capital. The Mumbai-based startup has so far raised over $12 million in funding from Ameba Capital, 9Unicorns, Venture Catalysts, SOSV and AstarcVentures.