Proptech unicorn NoBroker's app NoBrokerHood onboards ONDC
The company has raised a total of $366 million from marquee investors such as General Atlantic, Tiger Global, Google & Elevation Capital, Moore Capital, Beenext, and KTB Ventures.
Google-backed proptech unicorn NoBroker has joined the Government of India's Open Network for Digital Commerce (ONDC) through its visitor, society, and payment management app, NoBrokerHood, the company announced on Wednesday (September 20). With this, NoBroker becomes the first prop-tech platform to onboard ONDC.
"NoBroker is a great example of the new opportunities unlocked in unbundled and inclusive digital commerce, and we look forward to working with NoBrokerHood towards our vision of democratising eCommerce," said T Koshy, MD & CEO, ONDC.
With its technological capabilities, NoBroker will focus on enhancing hyperlocal commerce by allowing and empowering merchants to easily present and sell their products to a broader audience. The move would also allow inhabitants of society to get everything from meals to shopping to everyday necessities through a single app.
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"Over 50,000 eateries and thousands of kirana stores and grocery outlets are already live on the app to order from," the company said in a press note.
It claims to have a base of 1.2 crore residents across 18,000 societies. The app is available for download on both Google Play and the App Store.
"Instead of downloading multiple apps for their various needs, NoBrokerHood residents can avail everything on one app for all their needs, ranging from a dog collar to groceries and food. It is a win-win situation for small and medium business owners/retailers who get to showcase their products and compete with better-known brands, as well as for society residents who can enjoy a trouble-free and superior living experience," said Akhil Gupta, co-founder and chief product and technology officer, NoBroker.
Founded by Akhil Gupta, Amit Kumar Agarwal, and Saurabh Garg, NoBroker.com is a tech-based brokerage-free real estate platform. It helps people in their entire journey, starting from the house search to packers and movers, home loans, home painting and cleaning services, legal services, rent payments, etc.
The company claims to have over 2 crore registered users across Bangalore, Mumbai, Pune, Chennai, Hyderabad, and Delhi-NCR. It has raised a total of $366 million from marquee investors such as General Atlantic, Tiger Global, Google & Elevation Capital, Moore Capital, Beenext, and KTB Ventures. Vijay Shekhar Sharma and Anand Chandrasekaran are angel investors in the company.
It became India's first proptech unicorn in 2021 after raising $210 million in its Series E round of funding.
ONDC is a Ministry of Trade and Industry project to develop a facilitative paradigm to assist small merchants in taking advantage of digital commerce. It has a fully automated grievance redressal system, and an online settlement method is also being implemented.
A look at ONDC partner companies
Last month, Reliance Retail-backed e-commerce firm Dunzo also joined the ONDC as a seller app. The move is expected to help small and medium-sized merchants gain access to ONDC's wide network of buyers. https://www.zeebiz.com/small-business/news-dunzo-seller-app-joins-ondc-a...
Soon after Dunzo, Protean eGov Technologies and fintech platform PayNearby collaborated to provide credit services on the ONDC network for last-mile borrowers and MSMEs.
In July, Paytm E-commerce Pvt Ltd partnered with ONDC.