NowFloats Technologies Pvt. Ltd.

NowFloats Technologies Pvt. Ltd. specializes in providing digital solutions that enhance the online presence and growth of small and medium-sized businesses, focusing on website development, e-commerce, and digital marketing services. Founded in 2012 in Hyderabad, India, NowFloats Technologies Pvt.

Ltd. offers innovative digital solutions to empower businesses online. The company underwent a significant change in ownership in December 2019 when Reliance Ventures acquired an 85% stake for INR 1. 41 billion from various investors, including Omidyar Network and Blume Ventures.

The founders, Jasminder Gulati, Nitin Jain, and Ronak Samantray, established the company with a vision to simplify digital transitions for SMBs. Since its inception, NowFloats has completed a total of 8 deals with the most recent deal occurring on December 12, 2019, in conjunction with the Trade Sale funding round which raised INR 1,416. 00 mn. NowFloats Technologies Pvt.

Ltd. provides a comprehensive suite of digital solutions aimed at empowering small and medium-sized businesses (SMBs) and enterprises in their online growth endeavors. Core offerings include website setup tools, e-commerce solutions, and digital marketing services tailored to simplify the digital journey for businesses. Among their services are the NowFloats ONDC Link for integrating with the Open Network for Digital Commerce and the AI-driven assistant RIA (Relationship Intelligence Agent), which delivers customized recommendations based on merchant websites.

Their My Biz App allows merchants to craft personalized business applications to enhance customer engagement across diverse sectors such as retail, healthcare, and manufacturing in regions including India, Southeast Asia, and other emerging digital markets. In the most recent financial year 2023, NowFloats reported a revenue of INR 3,580,471. 70 with an EBITDA of INR 240,014. 70.

The company generates its revenue primarily through its SaaS-based offerings, where businesses subscribe to various digital tools and services, facilitating their online operations and customer engagement through structured B2B engagements. Following the acquisition by Reliance Ventures, which took place on December 12, 2019, the company plans to leverage the recent funding of INR 1,416. 00 mn to enhance its digital and new commerce initiatives. This includes the launch of new products designed to facilitate further digital transformation for its clients.

NowFloats aims to expand into additional markets, particularly targeting regions within Southeast Asia and other emerging digital economies over the next few years. The strategic focus on new product development and geographic diversification is expected to drive the company’s growth trajectory.