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E-commerce

Unicorn playbook? ONDC seeks more funds even as incentives, discounts continue

Unicorn playbook? ONDC seeks more funds even as incentives, discounts continue
Unicorn playbook? ONDC seeks more funds even as incentives, discounts continue

Synopsis

ONDC wants to disrupt legacy e-commerce players, such as Amazon, Flipkart, Swiggy and Zomato. But in the process, it seems to be copying their playbook of high cash burn and frequent fundraising. But given the funds are coming in from banks and public institutions, how far can the burn go?

Taking on venture-capital backed e-commerce giants on their turf means adopting some of their tactics such as high cash burn and frequent fundraising. This is precisely what government-backed e-commerce network ONDC (Open Network for Digital Commerce) seems to be up to. ONDC is in the process of raising additional funds and is in talks with new and existing investors, multiple sources told ET Prime. A part of the digital public-infrastructure
( Originally published on Feb 02, 2024 )
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The Economic Times