The Open Network for Digital Commerce (ONDC) raised ₹220 crore ($23.1 million) from four strategic investors including Uber, Zoho, Paytm-parent One97 Communications, and BSE. The investment was formalized through a board resolution passed on May 12, 2026, with ONDC allotting 2.2 crore equity shares at a face value of ₹100 each on a private placement basis, according to inc42.com.
Zoho emerged as the largest investor in this round, contributing ₹70 crore. Uber India and Paytm invested ₹60 crore each, while BSE infused ₹30 crore. ONDC’s CFO, Krishan Agarwal, said in a LinkedIn post that the investment signals strong conviction in the potential of open digital networks to reshape commerce in India by creating a level playing field for businesses. The fundraise is part of ONDC’s broader program to deepen industry participation and expand its digital commerce infrastructure.
ONDC was incorporated as a Section 8 company in December 2021, with the Quality Council of India and Protean eGov Technologies as founding members. The network enables interoperability between buyer and seller applications, allowing any buyer app to transact with any seller on the network regardless of platform. This approach aims to democratize digital commerce and reduce dependence on dominant platforms, aligning with government efforts to boost digital trade.
The ₹220 crore funding round marks a significant milestone for ONDC as it seeks to scale its operations. The company’s next steps include expanding its network reach and onboarding more participants, with the goal of transforming the digital commerce landscape in India, according to inc42.com.