ReshaMandi provides a full-stack digital ecosystem for the silk value chain, using proprietary AI and IoT technology to improve farmers' productivity and streamline processes from farm to fashion. The company offers a democratised marketplace, financial solutions, and scientific advisories intended to boost production, quality, and international recognition for Indian silk. Founded in May 2020 by Mayank Tiwari (CEO), CTO Saurabh Agarwal, and CBO Utkarsh Apoorva, the Bengaluru-based startup reported revenues grew 30x in its first year of operation. ReshaMandi plans to expand its agricultural business across all major silk-producing states and establish leadership in weaving clusters such as Varanasi, Salem, Kanchipuram, Maheshwar, and Dharmavaram. It also aims to extend its retail footprint into numerous Indian cities over the next three to six months, including Agra, Kota, Gorakhpur, Dhanbad, Ranchi, Bhopal, Indore, Jabalpur, Rajkot, Vadodara, Surat, Pune, Nagpur, Satara, Visakhapatnam, Vijayawada, Madurai, Coimbatore, Kochi, and Kannur. The company says the fresh funding will help operationalise R&D work and deliver financial and technological solutions that benefit stakeholders across the silk supply chain. ReshaMandi is building a full-stack platform to organise India’s silk supply chain, offering services including quality testing, technical advisory, high-quality inputs, and market linkages at each node. The company uses mobile apps, IoT devices and tech-enabled grading systems to help farmers increase production, lower wastage, improve quality and access better pricing. Founded in April 2020 by Mayank Tiwari (CEO), Saurabh Agarwal (CTO) and Utkarsh Apoorva (CBO), ReshaMandi works with more than 2,300 farmers and has IoT devices deployed across 10 rearing centres. In less than a year since inception the startup reports an ARR of $30 million. The founders plan to use new funding to strengthen their digital platform and expand beyond Karnataka into other silk hubs such as Maharashtra and Tamil Nadu. ReshaMandi was named the Best Emerging Social Enterprise of 2020 by Business Mint.

Total raised

$2M

Funding rounds

3

Latest round

Seed

Latest activity

Mar 2021