<ul><li><keyword id="924368" type="General" weightage="80" keywordseo="peepul-tree" source="Orion">Peepul Tree</keyword> aims to support 1 lakh artisans and over 500 crafts, and onboard 1,000 content creators on its platform by the end of 2023. </li><li>The funds will be used to bring onboard content creators, digitise art supply chain and build technology to strengthen artisan communities across <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. </li><li>An estimated 200 million people in India are dependent on local artforms and handicrafts for a living, according to Peepul Tree.</li></ul>Peepul Tree, a live-commerce platform connecting India’s artisans to global consumers, has raised $6 million in a seed funding led by <keyword id="211885" type="General" weightage="50" keywordseo="elevar-equity" source="Orion">Elevar Equity</keyword>. Peepul Tree aims to enable the discovery of India’s cultural heritage with immersive shoppable stories and experiences. The funds will be used to onboard content creators to showcase the heritage behind their products. The capital will also be utilised in digitising the artisan supply chain and building technology to bring together artisans, content creators and customers on a single platform, said Peepul Tree in a statement. Backed by the fundraise, Peepul Tree additionally aims to support 1 lakh artisans and over 500 crafts and onboard 1,000 content creators on its platform by the end of 2023. Peepul Tree was founded in 2022 by <keyword id="3136220" type="General" weightage="50" keywordseo="anish-williams" source="Orion">Anish Williams</keyword>, <keyword id="23806" type="General" weightage="50" keywordseo="mini-menon" source="Orion">Mini Menon</keyword> and <keyword id="3245763" type="General" weightage="50" keywordseo="priya-jayaraman" source="Orion">Priya Jayaraman</keyword>. “While there are many players addressing this market, the nuances of business models differ significantly and Peepul Tree is unique in its DNA that builds for the artisans. Anish, Priya and Mini bring in a great mix of experience, networks &amp; ambition and are leveraging strong global trends that will help build momentum over the next 5-10 years,” <keyword id="14074637" type="General" weightage="50" keywordseo="jyotsna-krishnan" source="Orion">Jyotsna Krishnan</keyword>, managing partner, Elevar Equity said. There are around 200 million people in India estimated to be dependent on local artforms and handicrafts for a living, through formal and informal channels, the company said. Despite a large market and high margins, the current supply-chain construct does not equitably distribute margins back to the actual creator of the product – the artisan, the company said., adding that this could be attributed to the lack of resources and deal-making know-how, which makes it impossible for the actual product creators to compete and thrive within the global market. Peepul Tree wants to tap into this massively underserved supply chain and enable the creation of a global brand presence for Indian artisans. This will be driven by the creator economy along with storytelling powered by <keyword id="16031703" type="General" weightage="20" keywordseo="live-history-india-peepul-tree" source="Orion">Live History India - Peepul Tree</keyword>’s content arm, it said. “We are committed to providing access to a global marketplace and a credible platform to artisans that have been at the helm of safeguarding centuries-old traditions and sustainable processes whilst ensuring the consumers discover and take back a conscious retail experience of a lifetime,” said Williams, co-founder, Peepul Tree. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/here-are-top-10-most-powerful-passports-in-the-world-india-stands-at-85th-position/slidelist/96907574.cms">India moves up 5 ranks on Henley’s most powerful global passports index – Here are the top 10</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/this-shark-tank-india-s2-winner-bowls-judges-over-with-its-for-profit-approach-to-social-impact-haqdarshak/articleshow/96906954.cms">This Shark Tank India S2 winner bowls judges over with its for-profit approach to social impact</a>

Live ecommerce startup working with local artisans raises $6 million in seed round led by Elevar Equity

<img class="gwt-Image" src="/photo/55319685.cms" />After PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> announced that 500 and 1000 Rs note will not be valid beginning tomorrow, <keyword id="2461546" type="UNKNOWN" weightage="60" keywordseo="FinTech">fintech</keyword> start-ups are on a new high. After Vijay shekhar Sharma, here are a few thoughts from the merging entrepreneurs in the country 
 “We welcome the Government’s bold and courageous move to weed black money, which will have significant long term benefits for the economy. With this, the quantum of India’s economy moving through the digital pipes will witness massive growth. Both <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> and <keyword id="6377963" type="UNKNOWN" weightage="20" keywordseo="Freecharge">Freecharge</keyword> are committed to supporting all such initiatives.” – <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword>, Co-founder &amp; CEO Snapdeal 
 "We welcome this landmark move by the Hon'ble Prime Minister. As a nation, this is our first major step towards a cashless economy, bringing convenience and transparency for every Indian. This move is integral in realising our shared vision of a <keyword id="1929810" type="UNKNOWN" weightage="20" keywordseo="Digital-India">Digital India</keyword>.” – Bhavish Aggarwal, Co-founder &amp; CEO, Ola 
 
 “This is a welcome move by PM Modi for significant growth in Digital Payments. We will also see huge reduction in Cash on Delivery transactions. This will definitely provide boost to Internet commerce and Payments.” – Amrish Rao, CEO, PayU 
 
 
“This is definitely a positive and bold move by our government. Apart from tackling the issue of unaccounted money, this will create tremendous opportunity for payment tech firms to offer best in class products for all segments of the society. We at UDIO are super excited with this opportunity and our experience in delivering payment products &amp; services to the masses, will serve us well.” – Anish Williams, CEO &amp; Co founder, Udio 
 
Fintech start-ups in India will undoubtedly gain more traction and usage. Not only that, eCommerce portals will also profit by the increase in online transactions.

This is what India's business leaders are saying about
Modi's decision to scrap Rs 500 and Rs 1000 notes

<img class="gwt-Image" src="/photo/55808170.cms" /> Post demonetisation, the plastic cards industry, which was facing tough competition from mobile wallets, is now experiencing resurgence as the whole nation is using cards now. 
 Reserve <keyword id="6355303" type="CITY" weightage="20" keywordseo="Bank-of-India">Bank of India</keyword> with the finance ministry is now encouraging banks to push their limits on disbursement of debit and credit cards along with terminalisation of merchant outlets to facilitate card transactions, orders are pouring in from all sectors of the industry for fresh sof smart cards. 
 
"We have seen a trebling of demand for plastic smart cards to be used as debit and credit cards and we are also receiving orders from even smaller banks along with the bigger ones as they want to boost their debit card base as well,” said Deven Mehta, managing director, Smart Card IT Solutions, which produces smart cards for banks and telecom companies, told ET. 
 Smaller banks like Allahabad UP <keyword id="83503" type="COMPANY" weightage="20" keywordseo="Grameen-Bank">Grameen Bank</keyword>, MP Rajya Sahakari Bank have placed orders for plastic cards. 
 
"Allahabad UP Grameen Bank has asked for 1million cards to be supplied within the next 3 months,” Mehta told ET. 
 
Another section that is driving demand for plastic cards is the prepaid cards industry and that is being driven mostly by prepaid payments instruments (PPI) licence holders who also operate in the mobile wallet space. 
 
Companies such as ItzCash, Oxigen and Transerv are seeing a huge spike in demand for prepaid cards, mostly from corporate entities which want to pay their employees through pre-loaded cards. 
 
"We have received orders to the tune of 30 lakh prepaid cards from many small and medium enterprises to pay salaries to their employees along with individuals who are giving these cards to their family members for their use,” Anish Williams, chief executive officer of Transerv, which operates the Udio mobile wallet, told ET. 
 The demand for plastic card has seen an increased in demand for debit cards over the past two years, driven mainly by the <keyword id="2473706" type="UNKNOWN" weightage="20" keywordseo="Pradhan-Mantri-Jan-Dhan-Yojana">Pradhan Mantri Jan Dhan Yojana</keyword> which not only mandated bank accounts for every Indian citizen but also tied up with <keyword id="6383340" type="ORGANIZATION" weightage="20" keywordseo="National-Payments-Corporation-of-India">National Payments Corporation of India</keyword> for RuPay debit cards for those no-frills accounts. 
 As per RBI data, while the average number of cards being added to the system hovered around the 50-million mark for the years between 2007 and 2014, 2014-15 and 2015-16 saw around 160 million and 111 million cards being added respectively mainly for the <keyword id="2494045" type="UNKNOWN" weightage="20" keywordseo="jan-dhan">Jan Dhan</keyword> accounts. 
 "This surge had made us ramp up production capacity by over 200% over the past two years and hence we are in a position to meet the increased demand for plastc cards in the system,” said Sanjeev Shriya, president of the smart card industry body, <keyword id="3921508" type="UNKNOWN" weightage="20" keywordseo="smart-card-federation-of-india">Smart Card Federation of India</keyword>, told ET.

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Live ecommerce startup working with local artisans raises $6 million in seed round led by Elevar Equity

Eetika Kapoor

This is what India's business leaders are saying about Modi's decision to scrap Rs 500 and Rs 1000 notes

BI India Bureau

Cashless economy push is making cardmakers jubilant

BI India Bureau