Technological assets of eSamudaay acquired by village commerce startup 1Bridge
The ONDC-connected network of software nodes known as eSamudaay has been fully acquired by village commerce startup 1Bridge. Additionally, 1Bridge disclosed that its current institutional investor C4D Partners, the Sudhanva Dhananjaya Family Office, and other angel investors will contribute Rs 4 crore to an equity funding round for 1Bridge.
The company claims that it is a portion of a larger Series A capital round, which is anticipated to close at Rs 40 crore. According to a press release from 1Bridge, the money will be used to enable 500,000 local business owners and vendors to connect with 50 million rural consumers nationwide and provide access, convenience, and choice of digital commerce at their doorstep.
In accordance with the agreement, co-founder and CTO of eSamudaay Ravinder Singh Mahori will join 1Bridge as its CTO.
In markets like Udupi, Meerut, and Mysore, eSamudaay has partnered with ONDC and onboarded thousands of sellers onto the ONDC network. The agreement with eSamudaay enables brands, particularly those in consumer durables, home appliances, cars, agricultural implements, health and wellness, FMCG, etc., to access these markets more easily and productively.
With operations in more than 18,000 villages of 75 districts across six states (Karnataka, Andhra Pradesh, Maharashtra, Telangana, Tamil Nadu, and Odisha), 1Bridge, founded in 2016 by Madan Padaki, empowers local entrepreneurs to catalyze inclusive growth on digital platforms. A commerce app that integrates order origination, digital payments, and last-mile delivery is also claimed to have helped over 70 million transactions since its inception.
Over the next five years, 1Bridge wants to promote the digital economy in 500 districts, 300,000 villages, and 50 million consumers.
