ReshaMandi sets up cocoon market in Ramanagara

BL Bengaluru Bureau | Updated on: Apr 18, 2022
A view of the ReshaMandi cocoon market

A view of the ReshaMandi cocoon market

Company says the processing unit and warehouse will benefit 30,000 farmers, 6,000 reelers

ReshaMandi, a digital ecosystem for natural fibre supply chain starting from farm to retail, has set a cocoon mandi in Ramanagara, the major silk producing region in Karnataka. The processing plant and warehouse will benefit over 30,000 sericulture farmers and serve over 6,000 silk reelers with an aim to optimise silk value chain and achieve high quality of raw silk through interventions, the company said in a statement.

Ensuring fair, resilient bidding

ReshaMandi said its technology will ensure fair, resilient bidding and a warehouse management system. The facility at Ramanagara will consist of systems that will enable time series computation on the live bidding and enable statistical computation on the edge of the network while securing the bidding by setting up a geo fence perimeter. Bidding and purchasing will be delivered with the company’s unique cart management solution, offering payments through mobile application or working capital being given to reelers.

Offering scientifically graded cocoons

Through the 24 cocoon procurement centres in the State, ReshaMandi seeks to offer reelers scientifically graded cocoons by using image processing and deep learning algorithms for a predictive renditta grading. This will increase production capacity and benefit thousands of reelers who are using ReshaMandi’s mobile application and address issues such as quality of yarn, easy access to finance, fair pricing, scientific testing and optimised logistics.

“As we open Asia’s second-biggest cocoon Mandi in Ramanagara, we want to provide several prospects and opportunities to the whole supply chain ecosystem. Till now, we have made significant contributions to reduce the bottlenecks in the natural fibre ecosystem and with this mandi, we will ensure that a comprehensive set of actions are implemented onsite for the farmers’ ease and monetary gain,” said Mayank Tiwari, CEO and Founder, ReshaMandi.

ReshaMandi is creating a country-wide network that sources fabrics, sarees, and accessories directly from 5,500 weavers and over 6,000 reelers with an aim to bring a sustainable, authentic, positive economic change in the lives of stakeholders, their families, and communities, while reigniting consumers’ love for India’s diverse weaving traditions.

Published on April 18, 2022
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