Ximkart

Ximkart, founded in 2022, is a Bengaluru-based startup revolutionizing the B2B cross-border raw material sourcing industry. The company operates as a global raw material sourcing platform, connecting manufacturers with verified suppliers worldwide. By leveraging advanced technology and supply chain solutions, Ximkart simplifies the traditionally complex process of importing raw and semi-finished materials.

Key Details

• Industry: B2B E-commerce and Supply Chain Solutions

• Headquarters: BHIVE Workspace, 27th Main, HSR Layout, Bengaluru, Karnataka, India

• Founders: Sharan Urubail and Ankush Mittal (IIT/IIM alumni with extensive experience in B2B marketplaces like Amazon, Flipkart, and Udaan)

• Core Offering: Sourcing of raw materials (e.g., alloy scrap, silicon metal, titanium dioxide) for manufacturers

• Target Market: Global manufacturers with a focus on India’s growing manufacturing sector

• Funding: Raised $2.4 million in seed funding led by Matrix Partners India with participation from Multiply Ventures, Better Capital, and marquee angel investors like Sujeet Kumar (Udaan) and Hans Tung (GGV Capital).

Unique Value Proposition

Ximkart differentiates itself by:

• Eliminating middlemen in the supply chain to provide competitive pricing.

• Offering a seamless platform for product discovery, quality assurance, logistics management, and payment solutions.

• Catering to underserved MSMEs (Micro, Small & Medium Enterprises) by providing easy access to high-quality raw materials.

Achievements & Milestones

• Successfully onboarded over 50 manufacturers across multiple raw material categories within its first year.

• Recognized for addressing India’s $175 billion raw material import market by consolidating supply chains.

• Positioned as a key enabler of the "Make in India" initiative by empowering MSMEs with world-class sourcing capabilities.

2. Business Model & Revenue Streams

Ximkart operates on a B2B marketplace model, offering a tech-enabled platform that connects global suppliers with Indian manufacturers. Its business model revolves around simplifying procurement processes while ensuring cost efficiency and quality assurance.

Revenue Streams

1. Marketplace Commissions:

   • Ximkart earns commissions from sellers for facilitating transactions on its platform.

   • By consolidating orders from multiple buyers, it negotiates better pricing with suppliers.

2. Logistics & Supply Chain Services:

   • The company provides integrated logistics solutions to ensure timely delivery of goods.

   • Earns additional revenue through value-added services like customs clearance and freight management.

3. Payment Solutions:

   • Offers flexible payment terms where buyers pay only 10% upfront for large orders (e.g., Full Container Loads), reducing financial risk for customers while earning interest on deferred payments.

4. Quality Assurance Services:

   • Ensures product quality through rigorous supplier monitoring and product testing, charging fees for these services.

Customer Segmentation

• Focuses on the B2B segment, specifically targeting:

  • Large-scale manufacturers requiring bulk raw materials.

  • MSMEs seeking reliable and affordable sourcing options.

Growth Strategy

1. Market Expansion:

   • Plans to expand into new geographies while strengthening its presence in existing markets like China and India.

   • Aims to onboard more suppliers across diverse categories.

2. Product Innovation:

   • Continuously enhances its tech platform with features like AI-driven supplier recommendations and real-time tracking.

3. Partnerships:

   • Collaborates with logistics providers and financial institutions to offer end-to-end solutions for buyers.

4. Category Diversification:

   • Expanding its portfolio to include more raw materials such as chemicals, metals, and intermediates.

Competitive Differentiation

Compared to traditional import/export businesses or competitors like Zetwerk:

• Ximkart eliminates intermediaries, reducing costs for buyers.

• Its full-stack tech platform ensures transparency in pricing and quality control.

• Flexible payment terms make it accessible to MSMEs that often face capital constraints.

Conclusion

Ximkart is poised to become a leader in the B2B cross-border raw material sourcing space by addressing key pain points such as price instability, quality assurance, and logistical challenges. With strong backing from investors and a clear focus on empowering manufacturers through technology-driven solutions, Ximkart is well-positioned to capitalize on India's growing manufacturing ecosystem. For investors and industry professionals, Ximkart represents a promising opportunity in the rapidly evolving global supply chain landscape.