#reshamandi

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ReshaMandi has created a yarn market place on its app through which spinners can connect with weavers across the country and sell yarns at competitive prices.

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ReshaMandi’s Downward Spiral: Questions Surround Second Innings, After $40 Million Funding Collapse

ReshaMandi, an agritech startup focused on the silk industry, has become a cautionary tale for the startup ecosystem. After raising over $40 million in funding, the company abruptly halted operations, leaving behind a trail of unpaid employees, disgruntled vendors, and unanswered questions. What’s even more concerning are allegations that ReshaMandi’s founders may be attempting to revive the company under a new name, Genzr Solutions Private Limited.

From Millions in Funding to Sudden Shutdown

When ReshaMandi was first established in 2020, its goal was to close the gap in India’s silk supply chain in order to establish the nation as a world leader in the manufacturing of silk. With money in hand from many venture capitalists, the company looked like it was ready for big expansion. But by 2023, ReshaMandi’s progress had stopped. The business asserts that it grew rapidly in the first quarter of that year, but soon after, it encountered problems related to merchants’ late payments and the general slowdown in funding that affected the startup community.

Employee Concerns and Unpaid Salaries

Allegations of poor management and a disdain for the welfare of employees are adding gasoline to the flames. Mayank Tiwari, one of the co-founders of ReshaMandi, allegedly gave his staff members a three-month unpaid work ultimatum in June 2023, or else depart. Due to the company’s lack of a clear plan for paying their outstanding salary, many employees were left in a perilous situation where they had to take out loans just to make ends meet in Bangalore, an expensive city.

Beyond Salary Issues: A Web of Debt

The financial difficulties went much beyond salary for staff members. Lenders have filed bankruptcy petitions against ReshaMandi with the National Company Law Tribunal (NCLT) due to outstanding debts. Furthermore, according to reports, the organization conducted business with sellers and vendors who posed a significant risk, which made it even harder for them to get paid.

Respawn Attempt or Resurgence of Old Issues?

Concerning the ReshaMandi story, the purported attempt to resurrect the company under a new name, Genzr Solutions Private Limited, is perhaps the most troubling element. A number of ex-ReshaMandi workers assert that Genzr forced them to join by promising to give them their full pay as a welcome bonus. Moreover, it has been claimed that the founders of ReshaMandi as well as important staff members are now working for Genzr, which raises concerns regarding accountability and transparency.

Silence from Investors

Despite reaching out to investors who previously backed ReshaMandi, Inc42, the publisher of this article, received no response. This lack of communication from those who financially supported the company is troubling and adds to the overall murkiness of the situation.

A Cautionary Tale for the Startup Ecosystem

Although startup failures are not unusual, there are significant questions raised by the circumstances surrounding ReshaMandi’s demise. A troubling picture is painted by the alleged maltreatment of employees, the possible financial mismanagement, and the dubious effort at a new beginning under a different name. This narrative serves as a warning to the startup community, emphasizing the value of fiscal responsibility, ethical hiring practices, and responsible leadership.

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ReshaMandi app: Farm-to-fashion app for iPhone users launched - Times of India

ReshaMandi app: Farm-to-fashion app for iPhone users launched – Times of India

ReshaMandi deals in the farm-to-fashion digital ecosystem developed for natural fibres. Now, the company has launched an app for iPhone users in India. As per the company, the ReshaMandi app has been downloaded by about 34,000 users, 40% of whom have used the app’s payment functionality and have received payment confirmations via the app. ReshaMandi app: Availability The iOS app is available in…

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Bamboo as a natural fibre has many features to benefit us if we are considering sustainable clothing. Let's explore Bamboo as a natural fabric.

[reshamandi]

Reshamandi Procurement and Business Centres a Boon to Farmers and Reelers

“You can have everything in life you want if you will just help enough other people get what they want.”

 -Zig Ziglar

From the time of its inception, ReshaMandi has revolutionised the natural fibre supply chain with its technovations. Technology alone cannot build an enterprise, but relationships do. Working at grass-root levels, ReshaMandi has connected the humble stakeholders of the natural fibre ecosystem-farmers, weavers, reelers and retailers. By mitigating the problems faced by the stakeholders, ReshaMandi has established good associations because, at the core value of the company, building relationships matter the most.

With centres established across the Indian states practising sericulture, ReshaMandi is reaching out to numerous sericulturists and making silk farming a good and hassle-free experience for them. Apart from immensely benefiting farmers, it also gives ReshaMandi an opportunity to directly connect with farmers and understand their perspectives.

ReshaMandi procurement centres

Farmers visit ReshaMandi procurement centres for cocoon trading. They share cocoon samples with ReshaMandi representatives. The samples are scientifically graded for quality, and fair prices are fixed. Furthermore, ReshaMandi executives assist farmers with logistics and the cocoon lots are deposited at ReshaMandi procurement centres. Transparent cocoon quality screening processes put in place by ReshaMandi create an immense trust factor, and the farmer fleet is also happy as they are deriving satisfactory prices for their cocoons. In several instances, to provide better convenience, ReshaMandi executives reach the farm gate, interact with the seri farmers, collect cocoon samples, grade them, and collect the lot.

Farmers had to travel long distances to sell their cocoons at the mandi’s. With long-distance travel and heat exposure, cocoons lose their weight and the value of the product diminishes. Farmers would incur losses by trading these low-quality cocoons. However, with the advent of ReshaMandi procurement centres, all these problems are now of a bygone era for the farmer fleet. They are getting the required help in tackling problems related to logistics and also getting fair prices for their produce. At our centres, farmers can also easily access inputs like lime, bleaching powder and disinfectants essential for silkworm rearing and mulberry cultivation. They can also buy IoT devices which will help the farmers closely monitor, control factors like temperature, humidity, light, air quality that reduce the chances of the spread of diseases and increase the yield.

Secondary benefits for farmers

Farmers can devote more time to their other interests if they spend less time travelling to sell cocoons. Farmers can effectively spend this time carrying out many secondary occupations like dairy farming or vegetable farming, to name a few.

ReshaMandi reelers business centres and warehouses

After procuring cocoons from farmers, they are immediately transported to the ReshaMandi reelers' business centres and warehouses. These centres offer scientifically graded cocoons at reasonable prices to reelers. Various reelers flocking to the centres can place bids on the cocoon lots through the ReshaMandi super app and access bulk quantities and various qualities of cocoons.

With 20 + ReshaMandi procurement centres,7+ business and sales centres ReshaMandi is caring for farmers, reelers, and providing feasible solutions to their issues. By catering to their every need, ReshaMandi has successfully built an efficient natural fibre ecosystem. At a time, when many farmers are backing out of sericulture owing to multiple problems, ReshaMandi with its relentless efforts is encouraging and providing support to the farmers. Apart from farmers, these endeavors are enabling easy access to raw materials for the reelers. 

Visit ReshaMandi to know more about procurement and business, sales centres.

[scenteddeerwinner]

ReshaMandi is India's first and largest B2B marketplace digitizing the supply chain for silk and other natural fibers. ReshaMandi provides a full-stack digital ecosystem in the form of a super app, starting from farm to retail.

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How technology weaves a stronger silk supply chain

How technology weaves a stronger silk supply chain

Karnataka-based silk agritech startup ReshaMandi is helping to bring different strands of the industry together through IoT and other app-based services Silk occupies a prime position in our country’s sartorial profile. The Indian wardrobe is rarely complete without silk garments, especially saris, that function like a cultural calling card for the country’s weaving communities. Places like…

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Realme has reportedly signed a partnership agreement with Khy Electronics to manufacture a range of AIOT products and accessories in India. The products include- Realme Watch 2 Pro, Wireless Buds and Smart TV Google Stick.

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เรชามานดีขอเสนอ ผ้าธรรมชาติอันเป็นเอกลักษณ์ของอินเดียสู่เอเชียตะวันออกเฉียงใต้

BangkokStyle เรชามานดีขอเสนอ ผ้าธรรมชาติอันเป็นเอกลักษณ์ของอินเดียสู่เอเชียตะวันออกเฉียงใต้

เรชามานดี (ReshaMandi) อีโคซิสเต็มดิจิทัลด้านเส้นใยธรรมชาติจากฟาร์มสู่แฟชั่นที่ใหญ่ที่สุดในอินเดีย ประกาศการเข้าสู่ตลาดเอเชียตะวันออกเฉียงใต้ โดยมีเป้าหมายหลักเพื่อเป็นบริษัทครบวงจรสำหรับการจัดหาผ้าธร… อ่านเพิ่ม

เรชามานดีขอเสนอ ผ้าธรรมชาติอันเป็นเอกลักษณ์ของอินเดียสู่เอเชียตะวันออกเฉียงใต้ BangkokStyle

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เรชามานดีขอเสนอ ผ้าธรรมชาติอันเป็นเอกลักษณ์ของอินเดียสู่เอเชียตะวันออกเฉียงใต้

เรชามานดี (ReshaMandi) อีโคซิสเต็มดิจิทัลด้านเส้นใยธรรมชาติจากฟาร์มสู่แฟชั่นที่ใหญ่ที่สุดในอินเดีย ประกาศการเข้าสู่ตลาดเอเชียตะวันออกเฉียงใต้ โดยมีเป้าหมายหลักเพื่อเป็นบริษัทครบวงจรสำหรับการจัดหาผ้าธรรมชาติและผ้ารีไซเคิลทั้งหมด ซึ่งในการขยายตลาดครั้งนี้ เรชามานดีหวังว่าจะเป็นผู้เล่นที่โดดเด่นในตลาด��ิ่งทอธรรมชาติทั่วโลก และยังเป็นพันธมิตรในการจัดหาสิ่งทอจากธรรมชาติที่ใหญ่ที่สุดในโลก…

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Growing demand for natural fibres opens up huge farming opportunities in India: Mayank Tiwari of ReshaMandi

Growing demand for natural fibres opens up huge farming opportunities in India: Mayank Tiwari of ReshaMandi

‘Natural fibres are considered the backbone of the Indian textiles industry which is projected to reach $195 billion by 2025 from $138 billion currently’ ‘Natural fibres are considered the backbone of the Indian textiles industry which is projected to reach $195 billion by 2025 from $138 billion currently’ India’s natural fibre industry is expected to grow steadily in the coming years on the…

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ReshaMandi latest Women Spring Summer 2024 collection is filled with exciting new designs curated to bring together the latest trends in fashion that are sure to impress.

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Silk-tech startup ReshaMandi raises USD 30 mn in Series A funding

Silk-tech startup ReshaMandi raises USD 30 mn in Series A funding

Silk supply chain start-up, ReshaMandi on Tuesday said it has raised USD 30 million (over Rs 225 crore) in Series A funding round led by global alternative investment manager Creation Investments and other investors. The fund will be utilised for expansion into newer territories and operationalise R&D work, among others, the company said in a statement. See Zee Business Live TV Streaming…

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ReshaMandi, an online B2B marketplace focused on silk products in India, raises a $30M Series A, a mix of equity and debt, led by Creation Investments (The Economic Times)

ReshaMandi, an online B2B marketplace focused on silk products in India, raises a $30M Series A, a mix of equity and debt, led by Creation Investments (The Economic Times)

The Economic Times: ReshaMandi, an online B2B marketplace focused on silk products in India, raises a $30M Series A, a mix of equity and debt, led by Creation Investments  —  ReshaMandi, a business-to-business marketplace focused on silk products, has raised $30 million, or about Rs 225 crore, in Series A funding round led by Creation Investments. (more…)

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Do you know the journey of jute plant to fabric production? Know amazing facts of the glittery natural fibre: Jute.

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ReshaMandi raises $30 million from Creation Investments, others

ReshaMandi raises $30 million from Creation Investments, others

ReshaMandi, India’s first silk-tech startup that serves as a B2B marketplace for silk farmers, businesses, and retailers in India, announced a Series A funding round of $30 million, led by global alternative investment manager Creation Investments and other investors. This round featured a mix of equity and some debt. The equity funding includes new investors such as 9 Unicorns, Venture…