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Erecting the 'Forge for Bharat' Frontier: ONDC and Allies Pioneer a Digital Commerce Metamorphosis

By Ritwik Ghosh,Kolkata India

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ONDC, in partnership with Google Cloud, early-stage investor Antler, Paytm, Protean, and Startup India, has unveiled the ‘Construct for Bharat’ campaign, aimed at addressing intricacies in the realm of digital commerce. The initiative aspires to garner active involvement from over 2,00,000 individuals spanning startups, enterprises, and educational institutions.

The Chief Executive Officer of ONDC, T Koshy, underscored the initiative’s objective to kindle ingenuity and fervor among denizens in academic institutions, startups, and corporations. In an interview with CNBC-TV18, Koshy articulated, “The overarching aim of this venture is to incite and invigorate innovation and ardor among a plethora of astute minds, both small and large, congregated in schools, colleges, and startups. Their collaborative efforts can yield miniature components seamlessly interconnected through the ONDC protocol, presenting a cohesive service to the end user.”

The ‘Construct for Bharat’ initiative is designed to attract more than 2,00,000 participants from the spheres of startups, enterprises, and educational institutions, focusing on various challenges encompassing catalog creation, financial services, and warehouse facilitation.

In a distinct development, Zyla Health, a healthtech startup, has secured $4 million in a Series A funding round, spearheaded by Exfinity Venture Partners. Khushboo Aggarwal, Founder & CEO of Zyla Health, conveyed in an interview with CNBC-TV18 that the funds will be channeled towards accelerated expansion within the domains of insurance, corporate partnerships, and major pharmaceutical verticals. Simultaneously, the company plans to integrate products across the expansive healthcare ecosystem.

Zyla Health had previously amassed $1 million in its pre-Series A funding round last year, gaining traction with clients such as Max Life Insurance, HDFC Ergo, Pfizer, Zydus, IBM, DHL, and Godrej.

In addition, investment firm Lighthouse Canton has successfully concluded the LC Nueva Alternate Investment Fund, securing a substantial corpus of Rs 350 crore. The fund specializes in backing nascent-stage enterprises within healthtech, consumertech, fintech, and education tech. Sohil Chand, Founding Partner & CIO at LC Nueva AIF, delineated the company’s investment strategies.

Furthermore, a McKinsey study foresees damages totaling $10.5 trillion from cyberattacks by 2025, underscoring the imperative need for robust cybersecurity frameworks. The sole impediment lies in the complexity of onboarding multiple cybersecurity solutions. However, Lakshmi Das, Co-Founder & COO of Prophaze, expounds on her company’s mission to streamline cybersecurity solutions, offering a remedy to this predicament.

All the information provided above is not written by Escape Title; it is sourced from various reputable outlets. Foundr Magazine India.

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