Bengaluru-based B2B ecommerce startup Udaan raises Rs 69 Cr from Singapore parent


                    Bengaluru-based B2B ecommerce startup Udaan raises Rs 69 Cr from Singapore parent

 

Bengaluru-based B2B online marketplace Udaan, which is owned and operated by Hiveloop Technology, has raised Rs 68.98 crore from its Singapore-based parent Trustroot Internet, according to RoC filings.

Founded in 2016 by former Flipkart employees Amod Malviya, Sujeet Kumar, and Vaibhav Gupta, the ecommerce company has attracted an estimated Rs 670 crore from Trustroot so far, including Rs 103.4 crore in July, Rs 139.9 crore in March, Rs 142.1 crore in January, and Rs 143.5 crore in 2018 soon after its Series C round. In September 2018, Udaan became the fastest Indian startup to reach the unicorn status in merely 26 months of registration.

The company connects manufacturers and wholesalers with retailers online, and has more than 1,50,000 buyers and sellers from 29 states on its platform. It also supports payments and logistics.

 

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