NEW DELHI, May 13: Global technology company Zoho Corporation on Wednesday announced an investment of Rs 70 crore in the Open Network for Digital Commerce (ONDC) to support the development of sovereign technology in the country.
The investment is aimed at making technology more accessible and inclusive for businesses of all types and sizes, particularly Micro, Small and Medium Enterprises (MSMEs), by helping them overcome structural constraints in digital commerce.
“Zoho Corporation…has invested Rs 70 crore in the Open Network for Digital Commerce (ONDC) to support the development of sovereign technology in India,” the Chennai-headquartered firm said in a statement.
Zoho already facilitates digitisation for MSMEs through its finance suite of applications, which includes the Vikra seller app on the ONDC network, alongside Zoho ERP, Zoho Books, Zoho Inventory and Zoho Commerce.
The company’s investment will continue to help expand the network’s ecosystem and accelerate adoption, enabling more businesses to participate in the digital economy, Zoho said.
“India’s economy depends heavily on MSMEs, yet they face challenges on all fronts-from limited market access to structural constraints imposed by conventional digital platforms that rarely align with their unique needs,” said Sivaramakrishnan Iswaran, CEO of Zoho Payment Technologies and Global Head of Finance and Operations BU, Zoho.
“Zoho shares with ONDC its philosophy of building sovereign technology to champion accessibility, flexibility and inclusion of businesses of every size,” Iswaran added. (PTI)
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