The Bengaluru-based social tech platform, 1Bridge, has announced a successful bridge round of funding, raising Rs 4 crore.
The funding round was led by C4D Partners and Sudhanva Dhananjaya Family Office, with participation from various angel investors.
In a significant move, 1Bridge has also acquired the technology assets of eSamudaay, a startup that specializes in establishing local ecommerce networks in smaller towns. This acquisition comes as a strategic development for 1Bridge, further solidifying its presence in the Indian tech landscape.
With the acquisition of eSamudaay's technology assets, Ravinder Singh Mahori, the co-founder and CTO of eSamudaay, has taken on the role of Chief Technology Officer (CTO) at 1Bridge.
This transition marks a pivotal moment for both companies, as they join forces to expand their reach and capabilities in the rural ecommerce sector.
eSamudaay's partnership with the ONDC has been instrumental in adding thousands of sellers to the ONDC network in areas such as Udupi, Meerut, and Mysore.
This collaboration has enabled greater access to digital commerce opportunities for local entrepreneurs and sellers.
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1Bridge has a clear mission: to empower local entrepreneurs and sellers to connect with 50 million rural customers across India. By bringing digital commerce directly to the doorsteps of rural consumers, 1Bridge aims to catalyze inclusive growth in these underserved areas.
The partnership with eSamudaay is set to benefit 1Bridge significantly. It will streamline and enhance brand entry into rural markets, particularly in sectors such as consumer durables, home appliances, automobiles, agriculture implements, health and wellness, and FMCG.
Founded in 2016 by Madan Padaki, 1Bridge is a social tech enterprise with a strong focus on rural India.
The platform serves as a catalyst for inclusive growth on digital platforms by empowering local entrepreneurs.
1Bridge's extensive reach extends to over 18,000 villages across 75 districts in six states, including Karnataka and Andhra Pradesh.
The platform boasts a network of more than 21,000 advisors and has facilitated over 70 million transactions.
Furthermore, 1Bridge has developed a comprehensive commerce app that seamlessly integrates order initiation, digital payments, and last-mile delivery.
1Bridge has ambitious plans for the future. The company aims to expand the digital economy to 500 districts and 300,000 villages, potentially impacting 50 million consumers within the next five years.
This expansion will not only create opportunities for local entrepreneurs but also contribute to the overall growth of rural India.
In 2020, 1Bridge entered into a strategic partnership with Mahindra Logistics to collaborate on last-mile delivery and distribution of products in rural India.
This partnership further reinforces 1Bridge's commitment to bridging the gap in rural ecommerce and providing innovative solutions to connect consumers and sellers.
The recent funding round and acquisition of eSamudaay's technology assets mark significant milestones in 1Bridge's journey.
With a clear vision and a mission to empower rural entrepreneurs, 1Bridge is poised to make a lasting impact on India's digital economy.
As it continues to expand its reach and partnerships, the future looks promising for this Bengaluru-based social tech startup.
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