Textile Value Chain talks with Mr Sanjeev Pandey, Zonal Head and Marketing, Capximize at Yarn Expo Surat 2023.
Can you tell us about Capximize?
Capximize is a global digital platform for manufacturing companies. At Capximize we are connecting manufacturing companies with each other. We help Indian manufacturing companies utilize their manufacturing capacities in a better way. We enlist their capacities in our platform, then with our proprietary algorithm, we recommend the right manufacturing partners to our registered members. We have manufacturing capacity providers who are Indian Manufacturers but the seekers are worldwide, global companies. So large multinational organizations who need Indian vendors can use our platform.
Currently, we are covering five sectors, textile, pharma, electronics, auto components and chemicals. Apart from that we are also actively working to generate enquiries for our members. That way we are providing them additional business opportunities. Also, as this is a global platform we are also providing global visibility to MSME sectors of India.
How can companies register on your platform?
Both entities which are on the platform, the first Indian manufacturers, who are providing their capacities, have to register on the website (www.capximize.com) and log in as Capximizer, which is our own term which we use for capacity providers. They have to provide their capacities and additional requirements like any certifications, ISO in case of the pharma sector, they have WHO certificate, all these things they can upload on the platform. Also, the second kind of entity is seekers. So, seekers are the global companies, which can be MNCs, MSMEs or even startups who do not want to invest in a manufacturing setup. They also have to register on the website and register themselves.
For both of these entities to register they only need three things: Email ID, Phone Number and GST.
How do you verify the companies to avoid any complications in the future?
For the verification process, using our proprietary algorithm, we use its inbuild mechanism to verify GST, email ID and phone number through the OTP process. Also, our platform is hosted on AWS servers, which are one of the world’s most secure servers which ensures our data security 24×7. Also, the data is not shared with anyone, it is 100% confidential and encrypted data.
Also, for security purposes for our members, we have a two-step authentication process, one is password and the other is OTP. So, no one can hack and use their data. For GST verification we use the GST portal.
For large-scale companies or in the case of major deals, we have tie-up with certain validation agencies, so these agencies sometimes go and physically validate plants also, through that we ensure that the deals, plants and production capacities are genuine.
Seekers are also verified the same way, if they are international seekers, in that case, our members can use one of the validation agencies to verify them. Their payment capabilities and other things. Also, Capximize is not involved in any deals, we are just connecting the seekers and manufacturers. After that all the deals happen between two parties, even the owners are verifying each other. But we still help them with our agencies.
Currently how many companies have partnered with you?
We started last year around January-February 2022, so now in 18-20 months, we have already more than 5200 manufacturing companies with us. Out of which 4500 are the Indian manufacturers. As I mentioned we are a very new platform, but in this short span of time, we have got more than 100 enquiries currently going on. These are the large size enquiries, the average enquiry size on our platform will be more than a crore. And we have concluded more than dozens of deals as of now which are multi-crore deals. So, we are adding a lot of value to our manufacturers now. A lot of enquiries have come into the pharma sector and textile sector, few of them are in chemicals, electronics and auto parts.
Are there any plans for expansions in the near future?
We have our plans, as I mentioned we are currently in only five sectors, so one plan is to move into other sectors through sector expansions. So, we are going into consumer goods and food products. that’s one way. The second plan in 2-3 years is to offer manufacturing capacities from out of India as well. Currently, we are offering from India only, but in the future, even foreign companies will also be able to offer their capacities.
Are you partnering with any associations?
This has been our plan from the beginning, we take a lot of support and help from not only Indian associations but also foreign and Indian chambers also. We have taken membership in more than twenty chambers and associations. Some of them may be the Indo-France Chamber of Commerce, New India Chamber, Indo-German Chamber, and Indian associations like ITMA, Drug Manufacturing Association, Indian Textile Association, and CMAI, so these are some of them. We do a lot of seminars, and webinars with them, we also sponsor their events and we also do our own events with these associations and through that we connect with our members.
