OhLocal also aims to expand its platform to at least 20 cities in India, while adding roughly 300-500 local merchants in each of these cities
New Delhi: O2O (online-to-offline) local commerce marketplace platform OhLocal which connects local merchants with consumers in their respective locations and cities via its platform – has announced it is looking to scale-up operations exponentially and in parallel increase the Gross Merchandise Value (GMV) on its platform in 2023. By 2023-end, OhLocal will be targeting to partner with 10,000+ sellers/merchants across India and thereby creating an over INR 90 Cr business opportunity for them. “In the the coming year, while aiming a 10x growth in our partnered merchant volume, we at OhLocal shall simultaneously strive to achieve at least 17X spike in terms of business generation for them,” Devashish Goyal, founder & CEO said. OhLocal also aims to expand the platform to at least 20 cities in India, while adding roughly 300-500 local merchants in cities including Lucknow, Kanpur, Agra, Gwalior, Jaipur and Udaipur.
Speaking about the platform’s growth plans, Goyal said, “Off late, a dire need has been felt to digitize local sellers and retailers in India and enable them to embrace emerging technologies in such a way that they are able to play on their strengths. Besides growing significantly on the consumer and partnered seller side, we will also look to expand to new geographies soon and will be introducing new product categories such as furniture, fashion, and mattresses, among others, with our flagship hybrid-commerce platform.”
Hitherto, the platform has onboarded more than 800 local sellers across 5 cities in India – including various types of sellers – from small retailers and shop owners to medium and large sellers.
It has acquired around 10k users, and going forward, it is looking to strategically grow the platform’s user base to at least 5 lakhs by end of 2023. From a geographical expansion standpoint, by 2023-end, OhLocal is currently present in Meerut, Noida, Gurugram, and Ghaziabad.
Founded in October 2020, OhLocal is an ‘online-to-offline’ (O2O) commerce marketplace connecting local merchants with consumers in their respective cities via an Artificial Intelligence (AI) enabled smart, real-time bidding platform.
The startup has recently raised an undisclosed amount of pre-seed funding from a clutch of investors like Sunil Kumar Singhvi (JITO Angel Network), Harish Menon (House of Alpha Wealth Management), Sahil Goel (MiH ventures) and Puneet Verma (Aquilo).
