Greater Success for Udaan in Latest Funding Round

Udaan, a network-centric B2B trade platform, designed specifically for small and medium businesses in India is elated with its success in a Series B round of funding.

Mumbai IND – May 11, 2018 —

Udaan is pleased to announce that the business-to-business trade platform is designed specifically for small and medium businesses in India. The platform brings traders, wholesalers, retailers, and manufacturers in India together. The firm has real insights into current trends and quality B2B trade features. It brings businesses the power of technology to scale and sustain their growth. Udaan had successfully raised $10 million in series A funding from Lightspeed India and Lightspeed US. In one of largest investments of its kind for Indian start-ups in early stages, the Indian commerce portal has raised around Rs 320 crore or $50 million in its second round of funding.

The Bengaluru-based firm was founded by three high-level former Flipkart employees. The trio comes from reputed institutions like IIT Delhi and IIT Kharagpur and is focused on bridging the gaps in the B2B market space. At present, the online trading app connects businesses belonging to FMCG, clothing, electronics, provides logistics services and has recently started lending. The initial efforts of the firm are to create an online trading marketplace to facilitate the purchase of goods by businesses, wholesalers and traders. The firm managed to reach more than 500 cities in a time span of just 15 months from launching and currently has sellers in 80 cities. Udaan is reportedly clocking a turnover of Rs 100 crores a month.

The firm has successfully beyond the skittish investor sentiments around India when technology are considered. It is delighted to have gained trust of Russian billionaire, Yuri Milner and the re-run with the existing backer Lightspeed Venture Partners. Lightspeed is a Silicon Valley venture fund which is noted for its early investment in companies such as messaging app Snapchat.

A growing number of B2B e-marketplaces were funded during 2016. The B2B App is easy to use and gives the power to discover customers, suppliers and products across numerous categories. Users can connect directly with parties of interest to discuss trade. The app provides the ability to buying and selling on the users’ terms with secure payments and smooth logistics. The use of the app allows for growing the network through repeats and relationships with like-minded parties.

Further details can be seen at Playstore: https://play.google.com/store/apps/details?id=com.udaan.android

Contact Info:
Name: Udaan-funding
Organization: Udaan-funding
Phone: 96868 314444

For more information, please visit https://udaan.com

Release ID: 343903