Bengaluru-based venture capital firm Antler has introduced a new platform in collaboration with Nandan Nilekani (Chairman of Infosys and Ekstep), FIDE (Beckn Protocol), and ONDC (Open Network for Digital Commerce) to support entrepreneurs building on the ONDC. The initiative, named the Antler-ONDC platform, aims to provide founders with access to capital, expertise, and a network to help them build successful businesses on the open protocol.
Key Features
Key features of the Antler-ONDC platform:
- Capital: The platform offers pre-seed capital of $300,000 to founders with a team and an idea, along with potential additional investment of up to $200,000 from Antler’s network partners.
- Community: Founders without a team and idea can join a curated community to kickstart their entrepreneurial journey and receive guidance from experts, operators, and ONDC network participants.
- Support and Expertise: Founders can participate in problem-solving sessions with industry leaders, including key figures from FIDE and ONDC.
- Fast-Track Opportunity: Select founders building on ONDC and seeking founding teams can be fast-tracked to Antler India Residency, a community for founders and operators to build a team, develop an idea, and secure funding in three months.
ONDC is an open protocol focused on democratizing ecommerce in India. It facilitates a digital marketplace that allows various participants, including kirana stores, grocery and electronics retailers, small vendors, and restaurants, to engage on an open platform. The ONDC has expanded its merchant network across multiple cities and transaction volumes, signaling its growing influence in the Indian ecommerce landscape.
Antler-ONDC collaborates with Nandan Nilekani and FIDE to support startups’ innovation and growth.This initiative is poised to support a diverse range of startups in the ecommerce and digital commerce space, ultimately contributing to the growth and democratization of India’s digital marketplace.
