Pune-based startup boosts small-scale Indian factories within an disjointed manufacturing landscape
Rawmart, a Pune-based startup founded in 2021, is making waves in the Indian manufacturing sector by building integrated manufacturing ecosystems within industrial clusters. This innovative approach synchronizes supply chains, production, and quality for scale, setting the stage for a new era of manufacturing in the country.
The brainchild of Shrenik Bora, Saurabh Rana, and Tejas Changede, Rawmart has already recorded significant success. In its first year, the company reported $3.5 million in revenue, which more than doubled to $7.8 million the next year, and crossed $10 million by FY23-24.
Rawmart's future plans include digitizing Small and Medium Enterprises (SMEs) with Enterprise Resource Planning (ERP) systems, Internet of Things (IoT) integration, and robotics. To foster innovation, Rawmart launched Rawmart Labs, an innovation hub designed to help SMEs move beyond replication and develop bespoke engineering solutions.
Rawmart goes beyond conventional procurement, delivering raw materials across India, aggregating credit to ease cash flow, unlocking spare SME capacity through contract manufacturing, and developing custom machines to improve productivity and safety. This approach not only addresses India's supply chain challenges but also enables small factories to grow.
Rawmart's platform uses predictive modeling to anticipate demand, match it with available supply, and automate sourcing decisions. This technology-enabled procurement, combined with in-house research and design, allows Rawmart to move from concept to product nearly three times faster than traditional players.
Rawmart's model is distinct from traditional traders, procurement agents, and online marketplaces, as it combines procurement, credit, manufacturing capacity, and innovation in one platform. This integrated approach has resulted in Rawmart delivering over a million steel parts with minimal to zero rejection rates.
Rawmart now serves over 140 clients across various sectors, including infrastructure, railways, pharma, Fast-Moving Consumer Goods (FMCG), solar, and heavy engineering. The company's focus for the future is on entering selected markets in Asia and Europe and building long-term partnerships with Multinational Corporations (MNCs) and large enterprises, providing end-to-end supply chain and manufacturing solutions.
In addition to its expansion plans, Rawmart also aims to create an ecosystem that solves gaps and enables SMEs to compete at global standards. To achieve this, Rawmart plans to expand Rawmart Labs by launching market-first products and investing in sustainable tech like plastic and metal scrap recycling.
Rawmart remains profitable from day one, a testament to its efficient business model and commitment to delivering value to its clients. As the company continues to grow and innovate, it is poised to revolutionize the manufacturing sector in India and beyond.
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