Udaan valuation touches $2.8 billion with $585 Million Series D funding
By MYBRANDBOOK
Online B2B marketplaces is now talk of agenda of the corporates when they want to address the enterprise segments. As the focus of the promoters towards their agenda is very much clear, now they are able to raise $585 million from investors like Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures caught investors participated in the series D round.
Udaan, a three-year-old business-to-business e-commerce platform in India, has attracts to bring more kirana stores ,chemists and other small businesses online through its marketplace, gradually they have entered to other sectors including lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, toys and general merchandise. Its clients are manufacturers and business owners like shopkeepers. It has a network of 3 million retailers in 900 cities, who are connected to 20,000 sellers across the country.
An expert says, the mode of business of Udaan is called catch 11, serve the industry and mass as per the need of the population and the way business sentiment works. The fact is everyone wants margin/profit, from whatever the means. The biggest issue in this type of business is managing the supply chain and strong technology back-up and credit policy.
Going forward, the midsize businesses are increasingly turning to the internet to interact with a wide range of suppliers, allowing for better price discovery and lowering their purchasing expenses.
In September 2018, udaan became one of the fastest Indian startups to reach unicorn status with a valuation of $1 billion and positioned as the biggest single funding round raised by a B2B platform in India.
With the latest funding, udaan will invest in further building its platform.
“We are building udaan as a trusted partner for small businesses across the country, to empower these entrepreneurs with technology, financial inclusivity, and supply chain capabilities to compete and win in an increasingly tech and digital world,” said a statement by its co-founders Amod-Malviya, Vaibhav Gupta and Sujeet Kumar.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
VVDN TECHNOLOGIES
IBALL WORLDWIDE PVT. LTD.
Technology Icons Of India 2023: Vijay Shekhar Sharma
Vijay Shekhar Sharma is an Indian technology entrepreneur and billiona...
Technology Icons Of India 2023: Ajit Balakrishnan
The Company markets specific channels, community features, local langu...
Technology Icons Of India 2023: Dilip Asbe
Dilip Asbe is the MD & CEO of National Payments Corporation of India (...
EESL encouraging e-mobility adoption across India
Energy Efficiency Services Limited (EESL) is a Super Energy Service Co...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
REDINGTON INDIA LIMITED
Redington (India) Limited operates in the IT product distribution busi...
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...