Silk is an integral part of our lives, especially the wardrobe. Banarasi silk saris are as famous aS the Taj Mahal of India. Yes, Indian silk has a global recognition. Yet, the plight of silk worm farmers is not as good as the value of silk they produce.
However, start-ups like ReshaMandi arrived just at the right time to “fix” things in the silk sector, especially the supply chain. Based in South India, this startup has achieved remarkably in this regard.
Now, they are all set to enter North India.
As per an official statement by the company:
ReshaMandi, India’s first silk agritech company, has announced its expansion plans to the northern states of India by setting up its operations in Delhi.
The Bengaluru based startup’s expansion plan addresses the core issue of minimal connectivity between the silk producing states in South India and weaving communities and retailers in North India. The company aims to instill much needed technological interventions in bridging the supply chain gaps, reduce the economic risk to its stakeholders and put an end to the exploitation faced by retailers and weavers at the hands of the middlemen.
The restrictions due to Covid-19 had threatened the survival and earning capacities of the silk weavers and retailers due to falling demand and decreasing footfalls in the stores. ReshaMandi’s footprint in Delhi comes as a ‘natural step forward’ aimed at bringing in standardization and transparency to a highly unregulated sector.
For the weavers’ community, the company's core offerings include access to AI tested quality graded yarns for higher quality output thereby fetching better selling prices, financial assistance for working capital and assistance in faster turnover of goods. ReshaMandi works with a network of over 300 retailers to drive down their credit risk and provides a digital platform to sell their goods.
Speaking about the expansion, Mayank Tiwari, Founder and CEO, ReshaMandi, said, “The expansion of our services to Delhi comes as the next logical step in our business growth strategy and our ultimate vision of making India Atmanirbhar in silk. Having solidified our foothold in the southern states, we hope to carry our learnings to implement the same to transform and uplift the businesses of silk weavers and retailers in the North.
Leveraging our established network, expertise and tech capabilities, we hope to resurrect India’s silk route and deepen the cooperation between varied regions in the country to march towards the dream of self-sufficiency in silk.”
ReshaMandi’s successful endeavors
ReshaMandi raised $1.7 million in seed funding in March 2021. Since the inception of the company in 2020, ReshaMandi has successfully consolidated its stronghold in Karnataka, Andhra Pradesh, Tamil Nadu and Maharashtra where it works directly with over 12000 silk farmers, 560 reelers, 3840 weavers, and a network of 300 retailers, to revolutionize and introduce scientific techniques to the mainly subjective practices of the silk industry.
These initiatives have cumulatively resulted in an increase in output, increased earnings of the stakeholders and at the same time reduced prices to the end consumers. It connects these stakeholders over ReshaMandi mobile application and facilitates the production and supply of their silk produce.
About ReshaMandi
Launched in 2020, ReshaMandi is India's 1st Agri-tech startup digitizing India’s silk supply chain providing an AI & IoT-led digital ecosystem for silk starting from farm to consumer.
The company works as a grassroots-level enabler that works directly with sericulture farmers, fabric weavers, silk reelers, and retailers, enabling them to get the best price for their produce, reducing the time to market, and making sure that they are supplied with the best raw materials and quality assurance testing kits.
Building on the momentum of the Make in India initiative, Reshamandi is growing double MoM with a vision to increase the output and quality of the silk produced in India and decrease the dependence on imports.
More information at: https://reshamandi.com/
