ONDC Secures Rs 220 Crore Investment From Zoho, Uber, Paytm, and BSE Technologies
Open Network for Digital Commerce Secures Rs 220 Crore Investment from Zoho, Uber, Paytm, and BSE Technologies
The Open Network for Digital Commerce (ONDC) has completed a significant fundraising milestone by securing an investment of Rs 220 crore from technology and financial services companies Zoho, Uber, Paytm, and BSE Technologies. This development brings a new set of investors into ONDC's fold, as per documents filed with the Registrar of Companies (RoC).
The investment is part of ONDC's broader fundraising program, which was approved by shareholders earlier this year for a maximum amount of Rs 430 crore through the issuance of equity shares on a private placement basis. This capital infusion is expected to further accelerate ONDC's expansion plans, which include the adoption of its open network model across various categories such as retail commerce, mobility, and financial services.
Krishan Agarwal, ONDC's Chief Financial Officer, emphasized the significance of this investment, stating that it reflects growing confidence in the open network model for digital commerce. According to Agarwal, ONDC has made substantial progress in building digital public infrastructure for commerce that is open, interoperable, and inclusive. The network has evolved into a vibrant ecosystem comprising buyers, sellers, logistics providers, technology partners, and financial institutions operating on a common platform.
As ONDC continues its broader fundraising program, the participation of respected organizations such as Zoho, Uber, Paytm, and BSE Technologies serves as a meaningful validation of the network's progress and long-term potential. ONDC, which is backed by the Department for Promotion of Industry and Internal Trade (DPIIT), aims to create an interoperable alternative to platform-centric digital commerce models.
In related news, ONDC recently announced the appointment of Vibhor Jain as Managing Director and Chief Executive Officer for a three-year term, as per regulatory filings.
| Company | Investment Amount |
|---|---|
| Zoho | - |
| Uber | - |
| Paytm | - |
| BSE Technologies | - |
| Total | Rs 220 crore |
Note: Unfortunately, the original text does not provide specific investment amounts for individual companies.
Investor Takeaway
Investors should consider the growing adoption of open digital networks in India's commerce sector.
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