ONDC
App for sellers
Season 3 Episode 47
| Brand | Kiko Live |
| Company Name | Smooth Tag Technologies Private Limited |
| Founders | Alok Chawla, Neeta Chawla, Virendra Kumar |
| Original Ask | 1 crore for 1% equity at the valuation of Rs. 100 crores |
| Deal | No Deal |
About the Product
Kiko Live stands out as the fastest-growing seller app for retailers looking to sell on ONDC. Numerous retailers and brands have witnessed a surge in orders, sometimes exceeding 100 orders per day from ONDC, all facilitated by Kiko Live without requiring any additional investment. Beyond expanding product availability across ONDC buyer apps, Kiko Live also conducts marketing activities to drive order growth on the platform. Known for its exceptional execution in grocery retail on ONDC, Kiko Live boasts processes, technology, and seller training that ensure a fill rate of over 99% on all orders, matching Quick Commerce fulfilment rates. In contrast to Quick Commerce, which may divert business from retail shops, Kiko Live empowers these shops to deliver a Quick Commerce-like online shopping experience via ONDC. Moreover, it enables them to offer a broader range of products at more competitive prices. With Kiko Live, retailers can get discovered locally, access an all-in-one dashboard to track orders and deliveries, and ultimately increase revenue.
Founders & their story
- Alok Chawla
- Neeta Chawla
- Virendra Kumar
Kiko Live addresses challenges faced by shopkeepers, including high commissions on online platforms and a lack of expertise in building their own websites or delivery networks. Their target customers include Kirana stores, pharmacies, electronic goods vendors, and others. Sellers can create their own websites, sell products and services online, and receive assistance with local deliveries. Kiko Online Shop does not charge commissions to sellers for orders or deliveries made online. They list sellers’ products on ONDC and have launched seller websites in Aug 2023. They have onboarded over 1000 sellers and have a patent granted for their system for live interactive online shopping. Sellers can be onboarded in 5 minutes and start cataloguing upon admin approval. Kiko Live charges sellers a 5% commission after listing on ONDC. They have raised a total amount of 13.4 crores, with 3 crores in the bank.
About the company
Kiko Live emerged with a visionary goal: to digitalize and empower local neighbourhood retailers. Their platform welcomes kiranas, pharmacies, stationeries, and paan-shop owners, offering them the opportunity to optimize and expand their home delivery services through the Kiko Live app. In collaboration with ONDC as a Seller NP, Kiko Live provides sellers with visibility across various ONDC buyer apps, including PayTM, PhonePe, MyStore, and more. By registering as a seller on the Kiko Live platform, businesses witness a significant surge in their online presence, resulting in increased visibility and substantial business growth. This efficient process allows sellers to scale up operations and enhance revenue streams. Backed by notable investors such as Venture Catalysts, 9 Unicorns, Powerhouse Ventures, and SOSV, Kiko Live has gained strong support within the investment community. With over 100,000+ installations and a network of 10,000 verified sellers, Kiko Live continues to thrive under the patronage of Venture Catalysts, 9 Unicorns, and SOSV.
Revenue
September 2023 sales amounted to 3 lakhs. Annual sales for the fiscal year 2022-23 totalled 25 lakhs, while in the previous fiscal year 2021-22, they reached 6 lakhs.
Founders’ Ask
1 crore for 1% equity at the valuation of Rs. 100 crores.
No Deal
Reasons for no deal
Namita: Too many unknown variables that does not justify the valuation.
Vineeta: Big companies having capital will eventually win the fight.
Anupam: The business is priced too much at an early stage.
Deepinder: The pitch seemed more of ONDC and not of the business.
Aman: The business is not investible at this stage.
