Udit Karan Chandhok & Akash Narain Mittal
Wcube is a 'Bottom of the Pyramid' tech-enabled B2B procurement platform for mid and large-sized enterprises. Unlike other B2B procurement players in the market, WCube puts forward a different business model. In a marketplace where most of the products are largely wholesale or trade driven, this company flips it to a more manufacturer centric one. This approach helps in encouraging the SME segment in India to start popping up in terms of growth, standardization of products, and better revenue realization in terms of an MSME angle. Now, at the customer front, Wcube focuses on the product journey with a customer.
The main focal point here is that the company will have greater control over their customers' consumption patterns. This highly helps the customer bases, especially the ones which struggle with sourcing
The company was incepted in 2019, by Co-Founders Udit Karan Chandhok and Akash Narain Mittal. The company was started with a primary focus on consolidating the supply side of procurement and servicing the demand from their customers. They are currently headed towards a direction of empowering the Indian SME segment on the manufacturer side, and servicing quality products to large enterprise customers. With two offices in Delhi, NCR, and one in Bombay, WCube now has a strong team of about 60-65.
USP of the Company
According to Karan, there are mainly three pillars on which the moat of the company is built. "Wcube is the only organisation in the marketplace that understands different parameter of standardizing a product”, says Karan. Thus, they under-stand the products much better and deeper in terms of market dynamics and competition. Second is their adoption of a vendor-centric business approach which is concentrated towards the manufacturer side.
Wcube is the only organisation in the marketplace that understands different parameter of standardizing a product
This has resulted in alliances with over forty thousand manufacturers across India. Finally, third is their technology enabled business model which enables visibility across teams, smooth information flow and better efficiency in order fulfilment. All these aspects help Wcube to provide consistency and quality products to its clients. More-over, they practice a transparent and accountable approach when it comes to their buying and selling model.
The company aims to expand PAN India and later to Southeast Asia and the GCC region in the coming years. They also intend to focus on manufacturing technology and quality assessment technology to enhance the output for the manufacturers' end and the success ratio of their customer base. At the same time, they also plan to roll out a SaaS product to enable its vendors to integrate into the company's supply chain networks and thereby assure more success.