Lithuania-based Eany.io, a startup creating a B2B platform for buying and selling electronics, family, and DIY items, introduced on Tuesday, August 13, that it has secured €2M in seed funding from Market One Capital from Poland and Practica Capital from Lithuania.
The corporate will use the funds to speed up and optimise enterprise processes and put together for its anticipated progress.
“There are solely a handful of platforms of this sort in Europe, and there have by no means been any within the electronics, house, and DIY phase. Due to this fact, the funding will enable us to speed up and optimise our enterprise processes and put together for the anticipated progress”, says Mindaugas Apanavičius, co-founder and CEO of Eany.io.
Eany.io: Revolutionising B2B wholesale
Based by Mindaugas Apanavičius, Artūras Petkauskas, and Kęstutis Ramoskevičius, Eany.io is a B2B commerce platform developed by Lithuanian startup 1ean, UAB which connects patrons and suppliers of various merchandise and operators.
Eany.io collects inventory information from producers, distributors, and bodily shops.
The collected information is aggregated on the platform, and the particular data is made out there to patrons, by bodily, and on-line shops.
“We see that the massive B2B platforms, the “unicorns” like Ankorstore and Faire, prioritise working with small producers, whereas our thought is to permit retailers to promote A-brands by themselves. Having A-brands within the vary makes us attention-grabbing to a wider vary of consumers, and smaller producers will likely be offered with A-brands as an choice. Prospects who select the massive manufacturers are way more loyal to their suppliers, however they’re additionally extra demanding by way of pricing,” explains Mr Apanavičius.
By way of this platform, the corporate goals to handle the inefficiencies of conventional B2B commerce by giving prospects a centralised place to buy, simplifying transactions, and offering wider entry to merchandise for companies throughout Europe.
“We assist suppliers not solely to handle their warehouses extra easily but in addition to enter new markets. European suppliers – producers and retailers – are added to the database by submitting product lists in numerous, easy-to-integrate varieties. On this database, the product lists are aggregated, analysed, and given to retail prospects by way of API, whereas suppliers are supplied with suggestions on their assortment,” says Mr. Apanavičius.
As per the corporate’s claims, greater than 200 suppliers are utilizing the platform to submit their information.
“This 12 months alone, we now have helped suppliers to generate greater than €9M in orders: this isn’t the one proof that the idea we’re creating is attention-grabbing to prospects, but in addition demonstrates its actual advantages. The product producers we work with additionally profit – in change for the info, we assist them do all of the exhausting work: coordinating logistics, managing prospects’ commerce credit, and so forth,” says Mr Apanavičius, co-founder and CEO of Eany.io.
The traders
Practica Capital is an early-stage VC within the Baltics. The fund has invested in Lithuanian startups corresponding to Ovoko, Eneba, and Billo, all creating globally famend buying and selling platforms.
“We’re excited to participate within the effort to scale back litter and distance between manufacturers and shoppers. There are nonetheless huge structural inefficiencies in entry, logistics, and warehousing, typically exploited by incumbent middlemen. We imagine that Eany’s founding staff’s area experience and technical prowess type a profitable mixture to construct a differentiated B2B market to seize immense worth,” says Arvydas Bložė, Companion at Practica Capital.
Market One Capital is an early-stage VC agency that invests in infrastructure software program, vertical SaaS, and different tech with community results throughout Europe.
“We imagine that in the long run, every enterprise class may have its market to facilitate all its wants: transactions, gross sales, logistics, funds and so forth. This may remodel many industries as we all know them at present. That’s why we determined to again the founders of Eany, supporting them in digitizing an enormous, extremely fragmented, and nonetheless principally offline trade,” says Marcin Kurek, Managing Companion of Market One Capital Fund.
