Friday, June 2, 2023

B2B food sourcing startup ONWO raises $1.6M in a seed round led by Kae Capital & others

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Bengaluru-based B2B cross-border food sourcing startup ONWO (One World) has raised $.6 million in a seed funding round led by Kae Capital, along with the participation from Whiteboard Capital, 2 am VC, Kettleborough VC, Climber Capital, Point One Capital, Mekin Maheshwari, Srinivas Anumolu, and other angel investors.

The startup plans to use the raised capital to hire talent to expand the team and enhance the platform for users. Founded in July 2022 by former Flipkart executive Bipul Kumar, ONWO operates a cross-border marketplace to transact and fulfil orders of processed food products from Indian manufacturers.

The startup offers end-to-end solutions in a full-stack digital model involving contract manufacturing, quality assurance and risk management.

Speaking on the announcement, Bipul Kumar, Founder & CEO of ONWO, said, “India is one of the biggest producers of food staples. However, most of these are traded from India as a commodity with little to no value add. With processing infrastructure steadily maturing in India, we are at an inflection point of becoming the processing superpower.”

“ONWO is at the forefront of reimagining this transition using a digital-first approach in an otherwise traditional industry. ONWO’s full-stack solution will help Indian manufacturers and SMEs access the global markets in a fully managed and asset-light model,” said Bipul.

It claims to have exported more than 10,000 MT of food products, with a repeat rate of >90%.

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