ONDC raises Rs 220 crore from Zoho, Uber, Paytm, BSE; eyes additional capital

The Open Network for Digital Commerce (ONDC) has raised Rs 220 crore from software firm Zoho, mobility platform Uber, fintech company Paytm, and BSE Technologies, the technology solutions arm of the stock exchange operator, per a regulatory filing with the Registrar of Companies (RoC).

Zoho invested Rs 70 crore, while Uber and Paytm contributed Rs 60 crore each. BSE Technologies injected Rs 30 crore into the government-backed digital commerce network.

ONDC plans to secure another Rs 210 crore from existing and new strategic investors. In an earlier regulatory filing, the organisation said the fundraising is part of its transition to ONDC 2.0.


“ONDC is seeking to raise funds to transition the network from a functional proof-of-concept to a value-creating national digital commerce infrastructure under its ONDC 2.0 strategy,” it said. “This fundraise is split between existing investors and new strategic partners to drive several critical growth pillars, including the implementation of AI and agentic commerce to lower participation barriers, and the development of Digital Public Infrastructure (DPI) initiatives like DigiCatalog — (a) National Infrastructure for Cataloguing.”

Existing investors in ONDC include financial institutions such as State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, and Kotak Mahindra Bank, along with the National Stock Exchange, CSC e-Governance Services, and others. Its founding members were the Quality Council of India and Protean eGov Technologies.

In a statement on Tuesday, Uber said the investment builds on its earlier integration with ONDC and is aimed at unlocking new opportunities in mobility through the network.

“As part of this investment, Uber will work closely with ONDC to expand access to multimodal transportation, including public transit integrations, while also strengthening its logistics capabilities to better serve businesses and independent earners on the network,” the company said.

Notably, Uber's mobility rival Namma Yatri operates its ride-hailing service on ONDC.

Chennai-based Zoho had announced its participation in the funding round last month, saying the investment was intended to make technology more accessible and inclusive for businesses, particularly micro, small, and medium enterprises (MSMEs).

Paytm, meanwhile, has been among the earliest proponents of ONDC, which was set up as an alternative to the walled-garden ecosystems of ecommerce giants Amazon and Flipkart.

Uber currently offers metro ticket booking through ONDC. Similar services are available on platforms such as Rapido and WhatsApp, as well as through payment apps like Paytm, PhonePe, and Google Pay.

Earlier this week, ONDC said the network is processing more than 300,000 metro and bus ticket bookings daily. As of last month, it had crossed 450 million cumulative transactions across retail, logistics, mobility, public transport, tourism, and financial services.

In an interview with ET on May 18, Uber CEO Dara Khosrowshahi said the company could consider re-entering India's food delivery market through a partnership model, referring to a potential alliance with ONDC. Uber said in a statement that more than 10 million metro rides have already been booked through its app via the ONDC network across India.