Gurugram: A well-known SaaS platform for e-commerce enablement in India, Unicommerce, has just launched UniGPT, a generative AI platform designed to solve e-commerce sellers' issues. With this cutting-edge platform, Unicommerce is officially entering the Artificial Intelligence space. It is intended to offer businesses all-encompassing support by answering their questions regarding e-commerce selling.

In response to the demands of companies engaged in e-commerce and omnichannel retail operations, UniGPT is the result of Unicommerce's continuous efforts to broaden its portfolio of solutions. The platform intends to help sellers efficiently manage their e-commerce operations by assisting them in comprehending and utilizing technology. Crucially, there is currently no cost to access UniGPT.

The initiative seeks to offer swift resolutions to queries regarding technology utilization and the support provided by Unicommerce's solutions. Additionally, UniGPT is poised to offer valuable insights into industry trends, empowering sellers to set internal business objectives. Leveraging a vast repository of content accumulated over a decade, including technology support pages and annual industry reports, UniGPT aims to assist sellers in navigating the intricacies of e-commerce operations.

Kapil Makhija, MD and CEO, of Unicommerce, said, “​It’s our initiative to empower businesses with a deeper understanding of technology for informed decision-making. The platform will also assist in facilitating faster resolutions of queries for our existing sellers. UniGPT marks another stride in our ongoing commitment to offer comprehensive ​​technology-powered support to businesses.”

Unicommerce holds a significant position as India's largest e-commerce enablement SaaS platform, particularly in the transaction processing layer, based on revenue for the financial year concluded in March 2022. The company's suite of SaaS solutions enables seamless management of e-commerce operations for various stakeholders, including brands, retailers, marketplaces, and logistics service providers. Notably, Unicommerce has exhibited consistent growth in Annual Recurring Revenue (ARR) and Revenue.

By the quarter ending September 2023, Unicommerce has achieved remarkable milestones, including a 750 million+ Annual Transaction run-rate, serving over 3500 customers, managing 8000+ warehouses, and processing orders from 1900+ stores through its platform. These achievements underscore Unicommerce's pivotal role in democratizing e-commerce for businesses of all scales across India.

Unicommerce has also declared its intention to make an initial public offering (IPO) of its equity shares, subject to necessary approvals and market conditions, in keeping with its commitment to openness and accountability. The Securities and Exchange Board of India has received the company's draft red herring prospectus (DRHP), which gives prospective investors detailed information about the offering and related risks. An important turning point for Indian e-commerce and the larger e-commerce ecosystem is the launch of UniGPT. Unicommerce is positioned to revolutionize e-commerce enablement by utilizing artificial intelligence, enabling businesses to prosper in a world that is becoming more and more digital.

In the IPO, which will be an offer-for-sale only the promoter entity Acevector will pare 27.13% of its 38.18% holding in the company. Investor shareholders SB Investment Holdings (SoftBank) will halve its 29.23% holding; and B2 Capital Partners will sell 20% of its 9.95% shares in the offer for sale. These shareholders collectively own 77.4% of the firm. According to merchant bankers, the OFS-only issue is likely to raise around INR 500 crore at a valuation of around INR 2,000 crore.

Unicommerce had revenue of INR 60.16 crore in H1FY24 and restated profits of INR 6.33 crore in H1FY24; and INR 90.58 crore in FY23 and INR 6.4 crore in FY23.

Source – Press Release by Unicommerce, Unicommerce Website, PTI

Source – Unicommerce