India's Open Network for Digital Commerce (ONDC) is set to raise ₹430 crore in a funding round that brings together a mix of technology firms, financial institutions, and public sector giants, a move that signals growing conviction in the country's open digital commerce experiment.
According to regulatory filings accessed from the Registrar of Companies, ONDC has already received ₹220 crore in the first tranche of this raise. The funds were raised through the allotment of 2.2 crore equity shares at a face value of ₹100 each, issued on a private placement basis following a board resolution passed on 12 May 2026.
Zoho emerged as the single largest contributor, putting in ₹70 crore, while ride-hailing giant Uber and fintech platform Paytm each committed ₹60 crore. BSE Technologies, the technology arm of the Bombay Stock Exchange, made up the remainder with ₹30 crore.
The remaining ₹210 crore is expected to arrive in one or more subsequent tranches from a combination of existing shareholders and new strategic partners. The National Stock Exchange, the Quality Council of India, Punjab National Bank, dairy cooperative Amul, and the National Agricultural Cooperative Marketing Federation of India are each expected to contribute ₹30 crore, while the State Bank of India will put in ₹60 crore.
The fundraise marks a pivotal moment for ONDC, which was established under the Department for Promotion of Industry and Internal Trade (DPIIT) as a challenger to the closed ecosystems operated by global e-commerce behemoths. The fresh capital will underpin ONDC's transition to its so-called 2.0 strategy, with a focus on AI-driven and agentic commerce, digital public infrastructure projects such as DigiCatalog, quality assurance programmes, and sector-wise expansion.
ONDC's chief financial officer Krishan Agarwal said the investments represent an affirmation that open digital networks are fundamentally reshaping how commerce is conducted in India, creating a level playing field for businesses of all sizes.
The participation of Zoho builds on a deepening relationship between the Chennai-based SaaS company and the network. Zoho has integrated a number of its products — including Vikra, Zoho ERP, Zoho Books, Zoho Inventory, and Zoho Commerce — with the platform to help micro, small, and medium enterprises digitise operations and access customers via ONDC-enabled channels.
For Uber, the investment follows meaningful traction on the network. The company's metro ticketing service is live across five cities, and more than 10 million metro rides have so far been booked through the Uber app via ONDC. Paytm, one of the earliest advocates for the platform, has also scaled its ONDC-linked services considerably.
The fintech firm says it now facilitates more than 300,000 tickets daily across metro and bus services in 21 cities.
Prabhjeet Singh, President of Uber India and South Asia, said that India has been at the forefront of building digital public infrastructure that is inclusive, interoperable, and transformative at scale, adding that the investment places the company at the heart of that innovation journey.
ONDC is currently operational across 616 cities and has onboarded more than 7.64 lakh sellers and service providers. The network processed 218 million transactions across its various categories during the 2025–26 financial year. With banking heavyweights, cooperative institutions, and technology leaders now rallying behind it, the platform appears well-positioned to graduate from a proof-of-concept into a foundational layer of India's digital economy.
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