India’s omni-channel and warehouse management system market was valued at $231 million in 2019 and is expected to reach $488 million by 2024 with a CAGR of 16.2% during the time. With a rapidly growing e-commerce ecosystem, the adoption and penetration levels of warehouse management systems are also picking up especially in the logistics and retail sectors.
The issue with supply chain is its complexity pertaining to companies that have an omnichannel presence. Handling high volumes and SKU of companies in bulk can lead to difficulty in supply chain execution.
Stockone, with its full stack platform for order management, warehouse management, and planning solutions helps companies manage its operations smoothly. Setup in 2017 by Rajan Ekambaram and Karthik Bala, this Bangalore-based company helps e-commerce and consumer brands manage its supply chain for the effective growth of the company.
Stockone works majorly with companies that have reached a certain scale and look to be omni channels to grow the business. Explaining the working of the company Ekambaram, founder and CEO, told Entrackr, “Apart from its [company’s] online presence they also look at creating their own retail outlets to venture into general trade. This could cause difficulty in the warehouse operations level. We come in here and provide the tech to manage their warehouse transits that are new to them.”
The online B2B SaaS business mainly offers warehouse (inventory) management system, supply chain planning solution, and control tower. It currently works with over 40 companies with a recurring subscription revenue model. Companies such as Udaan, Sugar Cosmetics, Captain Fresh, Kama Ayurveda, Milkbasket are a few of its customers. It plans to onboard 40 more such brands in the coming year.
Stockone raised its seed round in March 2022 raising a total of $600k from institutional and angel investors. The company claims to have grown 2.5X in the past 10 months and is currently focusing on reaching its million-dollar milestone in revenue.
Apart from its plans on growing deeper in the Indian market, It also plans on increasing the presence of Stockone in the MENA region where it currently has a few companies onboard.
Bangalore-based Increff, Noida-based Vinculum, and New York-based Infor are a few of Stockone’s local and international competitors.