1. How your company started?
Before RiSE me and my Co Founder Krishnan naranapatty did our first startup called Orderrabbit which is a hyperlocal startup that connects local stores with the customers back then in 2014 (Recently acquired by a bigger player in the same space). When we were adding stores for orderrabbit, We heard a common pain point from many of our retailers.
That there are so many tech involved in connecting and solving B2C problems. But there is absolutely no one in B2B space organising the supply chain. Starts from the manufacturer to end retailer. So we decided to come up with a product that can streamline the entire supply chain and create value for the three key stake holders of the retail supply chain Manufacturer, Distributor and Retailer
2.What was the vision behind it?
RiSE is a B2B Social commerce platform that connects retailers and distributors. Enables them to trade, Communicate and transact. Also provide enough data to Brands. So they can optimise the entire eco system
3.Describes the services that you offer to your customers and in what way they are unique ?
We have positioned ourselves to solve major pain points of :
Brands/ Manufacturer – Except major brands. Most of the brands cannot have access to all their retailers. Thier reach ends with the distributor. We enable the brands to communicate the offers and new launches directly to the retailer.This increases the sales to the local distributor for that brand.
Retailers are the salesman for the consumer for any product. Without his push, no product will sell. But most of the times, retailers are aware of 6 products out of 10 products the brand carry. So we are creating a visibility and a platform for the brands to be interactive with their retailers.
Suppliers/Distributors -The supplier/distributors are the most ignored person in supply chain. everyone wants to take his job away by becoming an online supplier. Nobody realises the value he adds to the retailer and the brands and others. we firmly believe that this system is not going away anywhere and this is all so localised.
Suppliers mostly deal with 3 to 4 brands. Organising the orders, payment and sales automation is key. RiSE powered suppliers can get instant payment from the retailers through our credit based wallet system. This increases their cash flow and profitability phenomenally. As brands pushing offers to retailers. Suppliers can deliver more to the retailer and get paid instantly
Retailers – Retailers can track all their orders at one place. As they are making settlement instantly through the wallet they get good cash discounts from the supplier. They also get to know all the offers and products that brands are offering to them. So they get connected with multiple suppliers and brands at one place. This increases profitability at the cost of nothing.
4.Difficulties which you have faced or you are facing.
Usability is the primary issue we faced. Luckily all our clients were so supportive and patient in giving feedbacks to improve the experience with the retailer placing order through the app. Now we have 2000 retailers on boarded in Chennai and Banglore with fraction of cost it takes to acquire a customer in B2C. From the beginning we hand holded every retailer to use the app and its features, This helped us a lot. One point of time they become experts and they teach to others.
5. How your company is helping India to grow?
SME’S are the back bone of growing economies like India. We believe tech disruption should happen in improving their lives instead of competing with them. RiSE intends to create a strong platform to unearth true potential they possess with its unique model. Our mission is to bring 1 million retailers to digitally empowered supply chain in next 3 years. Solving their finance, Logistics and visibility problems
6.Your view on Startup India Campaign.
Startup happens because when we have this three things.
- When we have a problem to solve.
- When we have a good team who can make anything happen.
- When we have good environment to try new things.
Lately, all the three dots are getting connected insanely. I think India is the right place to be if you want to start now.
7.Message to entrepreneurs.
Your Start up is an extension of yourself. Be unique. Be persistent.