[Funding alert] Nexprt raises $200K in angel round from Titan Capital, others
Nexprt, a cross-border digital commerce platform that connects MSMEs from India and global importers, has raised $200,000 funding from Titan Capital and other angel investors. The startup plans to use this funding to build its core team and strengthen its product-market fit.
According to Nexprt, it provides a ‘reliable, high quality, and one-stop solution’ for all trade needs. It leverages technology to offer quality metrics, improved user experience, and quick product development to build a global brand.
At present, Nexprt deals in homedécor and hospitality segments across kitchenware, carpets, and handicrafts.
On the funding received, Harsha Vardhan K, Co-founder, Nexprt, said, “We aim to democratise manufacturing and build supply chain predictability for small businesses across the globe, allowing them to compete with large corporations in terms of their product sourcing and manufacturing needs."
Bipin Shah, Partner at Titan Capital, said, "We see great potential in Nexprt’s amazing team. With its full-stack approach and focus on institutionalising Indian MSME manufacturing, Nexprt is building a strong playbook to scale Indian exports and compete in the global markets.”
Cross-border ecommerce is projected to have strong potential in India, especially for the MSME segment, as they produce goods that are largely used by the retailers.
The National Association of Software and Services Companies (NASSCOM), in association with Technopak, a leading management and consulting firm, in its report, titled, “Retail 4.0: India story - Unlocking Value through Online and Offline Collaborations” estimates that exports from this segment could touch $125 billion by 2030 from the current level of $2.1 billion.
According to this report, India’s share in global cross-border ecommerce was only 0.2 percent in FY20 and has the potential to touch 8.9 percent by FY 2030. The key markets being the US, the UK, UAE, China, Germany, Australia, Singapore, etc.
At present, platforms like Amazonand Walmartare helping the Indian sellers, especially from the MSME segment, to gain access to the foreign markets.