To create omnichannel enterprise software products and services with seamless integration for domestic and foreign eCommerce marketplaces, Infibeam Avenues Ltd, India’s top publicly traded fintech company, has made a strategic investment by purchasing a 50% stake in Vishko22 Products & Services Pvt Ltd, a software startup based in Gurgaon.
Vishko22 will focus on providing tailored software solutions that allow combining and syncing online and offline operations to meet the growing need for omnichannel enterprise software solutions from B2B eCommerce operators in India and around the world.
The ability to manage various channels through an eCommerce website, mobile apps, in-store, and social media is made possible for businesses by omnichannel enterprise software, which gives a unified platform with all the capabilities required to do so.
Modern organizations can readily mix online and offline channels, which are normally operated very differently. Over time, they can develop the capacity to enhance potential clients’ touchpoints and reduce potential backend operations owing to digital automation using omnichannel enterprise software.
“It’s a strategic investment to meet the growing demand for omnichannel software with the existing suite of e-commerce offerings,” said Vishal Mehta, Managing Director, Infibeam Avenues Ltd. He added that the company will continue to make more similar strategic investments in technology startups over the next 12 months.
Infibeam has acquired numerous businesses and invested in fintech and technology firms since its founding. Uvik Technologies, a Bengaluru-based finance business, was recently purchased by Infibeam Avenues Ltd for Rs 75 crore in a cash and stock deal.
Mr. Mehta elaborates on the strategic investment, stating that “Unifying both online and physical operations has been a difficulty for many suppliers, retailers, and brands. We chose to invest in omnichannel software to fill this unmet demand and take advantage of the expanding omnichannel market in India and around the world,” said Mr. Mehta.
Speaking of potential rivals, Mr. Mehta said, “There might be firms offering a standalone omnichannel solution as a product, but to our knowledge, there are no players in India that provide a Scalable and integrated e-commerce Marketplace with the omnichannel solution under one roof.”
He added that the eCommerce players will be the startup’s first target since they have scalable business models and an unmet need for digital solutions that can accommodate or combine online and offline company formats.
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