Mumbai Based Startup Plotch.ai: Simplifying ONDC Integration for Digital Brands
Plotch.ai, a Mumbai-based startup, is addressing the challenge faced by digital businesses in India aiming to join the Open Network for Digital Commerce (ONDC).
Founded by Manoj Gupta, an IIT Bombay and IIM Ahmedabad alum, Plotch.ai offers a streamlined solution for businesses to integrate with ONDC, simplifying the process through a comprehensive technology stack.
Founder’s Background:
Manoj Gupta, with over a decade of experience in e-commerce, co-founded Craftsvilla in 2011, India’s largest online marketplace for ethnic products. He also worked at Nexus Venture Partners and engaged in angel investing. Co-founding Plotch.ai during the COVID-19 pandemic, Manoj aims to empower digital companies to join ONDC, leveraging his industry insights and technology expertise.
Plotch.ai’s Role in ONDC Integration:
- Comprehensive Technology Stack: Plotch.ai provides a technology stack comprising three main components – Application Layer, Middleware Layer, and Network Layer. This simplifies integration for buyer-side and seller-side applications.
- Integration Approaches: Plotch.ai offers two approaches – a bundled solution and an existing ERP connection. The bundled solution includes everything needed for quick ONDC setup, while the ERP connection allows businesses to integrate their established ERP systems with Plotch.ai’s tech stack.
- Reduced Time to Go Live: Plotch.ai claims to significantly reduce the time required for businesses to go live on the ONDC network. While the typical process might take a year, Plotch.ai aims to accomplish it within four weeks, facilitating quicker entry into the digital commerce space.
Business Model:
- One-time Setup Fee: Charged for integrating client systems with the ONDC network.
- Annual Maintenance Contract: Ensures regular updates and maintenance of the software.
- Transaction-based Revenue Model: Involves a small fee on every order processed and fulfilled through Plotch.ai-supported brands.
Strategic Partnerships:
- In June 2023, Plotch.ai partnered with Google Cloud to launch an ONDC-in-a-Box solution for enterprises, powered by Google Cloud’s open-source solution.
- The startup also collaborated with Microsoft to launch an ONDC-focused accelerator to support startups building the ONDC ecosystem.
Funding and Future Plans:
- Plotch.ai raised its first funding in July 2023 as part of a pre-seed round led by Antler India, Peak XV Partners, and Global Founders Capital.
- The startup is aiming to raise around $3 million for expansion into new categories such as insurance, lending, and mutual funds.
- With 42 employees, Plotch.ai targets onboarding 50 clients by the end of FY24 and 200 by March 2025.
Manoj Gupta emphasizes the importance for Indian businesses to join the ONDC network, enabling them to tap into the growth potential of e-commerce in India.