Magitronix EComm, a startup firm, is focusing on buyers in small towns for its online marketplace and helping neighbourhood electronics shop owners who are not able to get access to the network of big e- commerce players, a company official said on Sunday. The startup firm from West Bengal has also received approval from the department for promotion of industry and internal trade (DPIIT) of the commerce ministry and will start transactions through its portal ‘Ononya.com’, he said. “We do not have any warehousing facility.
Neighbourhood electronics shops will act as sellers. This is a startup with no funding from outside till now,” Magitronix CEO Indrajit Ghosh said. The offline sales of electronics shops across the country have been hit due to the COVID-19 pandemic. Citing a recent study released by IT body Nasscom and retail consultancy firm Technopak Advisors, he said, “The emergence of ‘online+offline’ (O+O) market is seen as a rising collaboration of digitally enabled retail stores.” He said a report of FIS also suggested the business of India’s digital marketplaces will touch USD 111 billion by 2024.
Nabendu Ray, former head of retail at Samsung India, has joined the startup as a director, Ghosh said. West Bengal’s home and IT departments former secretary GD Gautama is also a member of the advisory board, he said, adding Aditi Olemann, who was associated with Tata group and is now a successful startup entrepreneur in the technology space, has joined the firm. Ghosh said the startup will also upgrade skills of the neighbourhood electronics shop owners who will be entrusted with servicing the products sold through its portal.