OneCode Has Raised Seed Capital Led By WaterBridge Ventures

OneCode, a platform focused on building India’s largest digital distribution network, announced today that it has raised seed capital led by WaterBridge Ventures. The round also saw participation from a host of prominent angel investors such as Miten Sampat, Aakrit Vaish founder at Haptik, Rocky & Siddharth Mohan (Old Monk & Gourmet Passport), Apaksh Gupta (founder at One Impression), Venus Dhuria (founder at Appyhigh), Khalid Qazi & Harshita Singh. The team had earlier raised an angel round from the Dineout founders (Ankit, Sahil, Vivek & Nikhil).

Founded by Manish Shara & Yash Desai, OneCode is a platform which connects new age digital first brands with "relevant" sellers (aka OneCoders) to sell their products and services to trust deficit, less tech savvy users by building trust through assisted sales and support. OneCoders act as a bridge between brands and the end consumers who need physical touch points, in-person interactions, training, push and motivation before buying a product/service

The platform currently has a network of close to 200k sellers and is clocking close to $500k in GMV (ARR) doing 100K transactions and growing 200% MoM. Their brand partners include established names such as, Pharmeasy, 1mg, Dr Vaidyas, Kaya youth, The Man Company among others. Backed by strong performance, the Company is in active discussions to on board several brands across health, apparel and grooming categories. The infusion of capital will be used to invest deeper in tech and team expansion, as well as to widen the customer base.

“Because of COVID, retail stores are going through a massive churn and this would mean that new online experiences will emerge where brands will try other modes of selling such as 1-1 assisted sales, replicating the offline buying experience for customers. Platforms like ours will appeal to such brands and customers who need an interaction, a human touch point before buying any product/service and would prefer to stay at home.” Commented Manish Shara, co-founder, Onecode

“Accessing those segments of the market which have remained inaccessible through the existing digital channels is crucial for brands in general and D2C brands in particular. OneCode is laying down a network of sellers at ground zero which will take the brands directly to the doorstep of customers who have never transacted digitally.” Ashish Jain, Partner, WaterBridge Ventures      

"I am super excited to back Manish & Yash, whom I had the pleasure of working with at Dineout, as they build out the next great social commerce revolution starting with India” - Miten Sampat, Angel investor