E-commerce SaaS Company Unicommerce Eyes Public Listing In 2024 Snapdeal acquired Unicommerce in 2015
By S Shanthi
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After Mamaearth, it is now the e-commerce SaaS company Unicommerce's turn to take the IPO route. The startup is expected to make a public listing late next year. According to a report by ET, Unicommerce's parent entity AceVector Limite has tapped investment firm CLSA to manage its book-building process.
Unicommerce is a post-purchase experience management platform that empowers D2C brands, omnichannel retailers, e-commerce companies, and other online sellers with its SaaS-based integrated supply chain technology. The company currently works with businesses across 45+ industry segments. The platform is used by many brands including Mamearth, Bestseller, boAt Lifestyle, Lenskart, Sugar Cosmetics, Timex, Myntra and TCNS. The company claims that it enables 1.7 million e-commerce transactions every day. According to Tracxn, it has so far received a total funding of $11.1 million.
Unicommerce was founded in 2012 by three IIT Delhi classmates, Ankit Pruthi, Karun Singla and Vibhu Garg, who exited the company within two years. Snapdeal acquired Unicommerce in 2015.
On November 21, Unicommerce also announced its collaboration with Aditya Birla Fashion and Retail Limited's brand Tasva, launching "Pack-Fast," a solution designed to enhance warehouse operations. According to Makhija, quoted by Mint in September this year, an initial public offering (IPO) is on the cards despite headwinds and funding challenges faced by tech startups. "That's just one factor, there are other factors in terms of our journey. There are obviously implications of us going for an IPO, so I think all those factors are being evaluated including macros and the overall market."
He was also quoted as saying that the company is also open to investing in other tech startups to strengthen its offerings. "We are evaluating a few opportunities, but there is nothing concrete yet. We are profitable, so capital won't be a constraint, but we'll figure out the right opportunity," he was quoted as saying.
