How these IITians tapped into a $223 billion industry

IIT Roorkee, Wholdus
IIT Roorkee, Wholdus

Well, it pays off to study in one of India’s premier institutions and these guys acknowledge that. Four IIT Roorkee alumni ‑ Lesh Dixit, Kushagra Goyal, Kaustubh Kulkarni and Aditya Jha were brilliant students and got recruited by companies at the end of their college careers. They joined different startups immediately after graduating in 2015. However, destiny had some different plans for them and within a month, they decided to quit and start something on their own.

In February 2016, they launched Wholdus and their lives have picked up ever since. Wholdus is a manufacturer to business e-distribution platform that connects manufacturers to retailers.

“We aim to streamline the supply chain by giving one-stop solutions for wholesalers and retailers, enabling them to purchase products directly from manufacturers at factory price,” says 23-year-old Lesh, Co-founder of Wholdus.

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Lesh adds that for manufacturers, the platform makes distribution simpler by leading them to the validated pool of legit retailers.

For all those wondering here is how they make money. The revenue model of the platform is a commission based. The company raises flat 10 percent commission on every transaction between manufacturer and retailers/wholesalers. They, however, claims that it has a bandwidth to raise the commission cap between 10 and 25 percent, based on the transaction. “As the transaction size increases on the platform, so will our commission,” says Iesh.

They saw a problem and fixed it. The Indian textiles industry, currently estimated at around $108 billion, is expected to reach $223 billion by 2021, says IBEF and these guys plan to tap into this multi- billion dollar textile indusrty.

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