The annual revenue of the company is estimated to be $4M. The platform currently helps SMEs like small manufacturers, brands, mills, and farmers to sell their products across the country at a low cost. View Udaan stock / share price, financials, funding rounds, investors and more at Craft. Online B2B marketplaces have caught investors’ fancy as small and 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. Udaan founders - Amod Malviya, Vaibhav Gupta, and Sujeet Kumar (L-R). However, the Udaan team believes this will soon change. It brings traders, wholesalers, retailers and manufacturers in India on to a single platform. Log in to our website to save your bookmarks. Funding. Udaan valuation is $2.7 b, and annual revenue was ₹16.90 m in Y 2017. Udaan is a B2B trade platform, designed specifically for small & medium businesses in India. B2B ecommerce platform Udaan has raised close $585 Mn in the fresh round of fundings, taking the company’s total funding to $870 Mn. The Series D round saw investments from Tencent, Altimeter Capital, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures, the firm said on Wednesday. Bengaluru: Udaan, the fastest Indian startup to achieve unicorn status, has raised $585 million in its latest round of funding, valuing the online business-to-business marketplace at $2.5-3 billion. Register now! Sujeet believes that today the entire supply chain is highly inefficient whether from a logistics perspective or price discovery or other aspects. “We are excited to continue partnering with Udaan’s team as they build the leading B2B trade platform across categories in India. It was incorporated in June 2016 and launched later that year.
You are now subscribed to our newsletters. Udaan raises a whopping $585 million to hit a valuation of $2.8 billion, L - R -Amod Malviya, Vaibhav Gupta, Sujeet Kumar - Co-founders, Udaan, 15,000 entrepreneurs, 2000 investor meetings: Here’s what went down at the Startup Expo 4, Zomato’s revenue jumps by 225% and number of gold restaurants grew even during the logout movement, An Indian startup claims to bring Indian carb consumption down from 85% to 25%, I've only been using Apple's new iPhone 12 and 12 Pro for a few hours, but I can already tell they're dramatically different from their predecessors, From Mukesh Ambani to Azim Premji — Indian billionaires who dropped out of college or did not go to school at all, Celebrating Maha Navami 2020: Date, time and puja vidhi, Everybody in India must get Covid vaccine free, says Kejriwal, Samsung now lets you buy up to four products in one single EMI as it seeks to boost sales this festive season, Equitas Small Finance Bank IPO allotment: Here’s how to check share allotment status, K'taka healthcare warriors first to get Covid vaccine: Minister, Cong, BJP in K'taka cross swords over vaccine promise, Master Business Fundamentals from Wharton. Your session has expired, please login again. The B2B marketplace plans to use the newly raised funds to deepen its presence across India and add new product categories. NinjaCart connects farmers to retailers such as grocery stores, supermarkets and restaurants that buy fruits and vegetables. Times Syndication Service. Copyright © 2020. Explaining the depth and scale of the market, Sujeet said. Since then, the company has expanded its operations to 900 cities. Udaan became the fastest Indian startup to achieve a valuation of more than a billion dollars, when it raised $225 million from DST Global and Lightspeed last year. Focussed on horizontal B2B ecommerce, Udaan currently has operations across lifestyle, home and kitchen, staples, fruits and vegetables, FMCG, toys and general merchandise. “We plan to get deeper into the food category this year and also explore adding other categories such as electricals, industrial equipment," Vaibhav Gupta, co-founder of Udaan, said in an interview. “Both the producers and the consumers are paid really low or too high. Udaan raised a total of $284.9M with 4 investors- Lightspeed venture partners, DST Global, Yuri Milner, and Lightspeed India Partners. Udaan facilitates the purchase and sale of fashion products, groceries and electronics among manufacturers, brands and retailers. With this round of funding Udaan’s valuation is said to be $2.5 billion to $3 billion.
Udaan platform enables small businesses in India to finally benefit from the power of internet and technology. Udaan funding: Get all the Latest News, Pictures, Videos and Special Report about Udaan funding by Livemint. It represents a powerful example of how technology can empower the business of small merchants, improve the efficiency of industries and bring benefits to consumers.”.
With real insights into active trends, and great B2B trade features, Udaan brings to them the power of technology to scale & nurture their business. Martin Lau, President of Tencent, said: “Udaan’s unique approach can enhance the capabilities of millions of retail stores across India. Times Internet Limited. “Udaan represents a powerful example of how technology can empower the business of small merchants, improve the efficiency of industries and bring benefits to consumers.". In the 11th edition of TechSparks, we bring you best from the startup world to help you scale & succeed. Existing investors Lightspeed Venture Partners and DST Global also invested in the round. It'll just take a moment. Bengaluru: Udaan, the fastest Indian startup to achieve unicorn status, has raised $585 million in its latest round of funding, valuing the online business-to-business marketplace at $2.5-3 billion. Udaan has been in funding talks with several investors over the past few months, including Japan’s SoftBank and New York-based hedge fund Tiger Global Management, but nothing materialized. “Empowering tens of millions of small businesses to more effectively procure and sell goods is not only a massive business opportunity, but will help transform the economy by providing internet-scale productivity gains to merchants, wholesalers, and manufacturers," Brad Gerstner, founder and CEO of Altimeter Capital, said in the statement. Join Mint channel in your Telegram and stay updated with the latest business news. Udaan has been in funding talks with several investors over the past few months, including Japan’s SoftBank and New York-based hedge fund Tiger Global Management, but nothing materialized.
udaan has raised $585 million from investors like Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. Moglix, a B2B marketplace for industrial goods, raised $60 million from Tiger Global and Sequoia Capital. Founded in June 2016, Udaan began its operations a year later and achieved the coveted unicorn status in September last year.
“Udaan’s unique approach can enhance the capabilities of millions of kirana stores across India," Martin Lau, president of Tencent said in the statement.
All this comes on a single app on the smartphone. While most firms in this space are vertical players, which means they focus on one specific category—say, fresh produce, industrial goods, or staples—Udaan is a horizontal player, offering products across categories. Udaan was started by Sujeet Kumar, Amod Malviya, and Vaibhav Gupta, formerly with Flipkart, who realised that technology could be the game changer and believe Udaan’s journey has just begun. Udaan’s logistics service, Udaan Express, delivers 65% of the company’s orders. Since 2016, Udaan has so far raised $870 million in funding. At the same time, by reducing supply chain complexity, Udaan is making products more accessible and affordable for consumers across the country,” said Saurabh Gupta, Managing Partner at DST Global. [WATCH] The making of India’s fastest unicorn Udaan: how this B2B online marketplace is fueling... Search for what you want, categories, tags, keywords, authors, events, anything under YourStory, Make Small Strong Initiative: A look at the successful campaign that sought to rally customer support for SMBs, [Funding alert] AhaGuru raises undisclosed Series A investment from Anand Mahindra's family office, Smart home trends in India and how new-age technologies are enabling it, Post lockdown, local retailers are giving the big players a run for their money, The rise of agritech startup Bijak in a $200B market; Exploring one of the largest recipe-sharing apps, The week that was: from the rise of Boingg to the tech behind Razorpay, India’s latest Unicorn, [Jobs Roundup] Work with IKEA-backed interior design startup Livspace with these openings, Social enterprise and development partnerships: changemaker insights from Bangalore BizLitFest 2020. Udaan founders: (from left) Vaibhav Gupta, Amod Malviya and Sujeet Kumar. Get access to select LIVE keynotes and exhibits at TechSparks 2020. #TechSparksFromHome. With this fund raise, Udaan’s valuation is now believe to be $2.5 billion to $3 billion.
The round also saw participation from existing investors Lightspeed Venture Partners and DST Global. The last few months have seen strong investor interest in B2B e-commerce firms. B2B e-commerce platform Udaan has received around $30 million from its Singapore-based parent entity Trustroot Internet Private Limited, making it the largest deployment from its holding company till date. This includes agritech company NinjaCart, which saw an investment of $89.5 million from Tiger Global. Udaan, B2B ecommerce platform has raised $585 million funding led by Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital, and Citi Ventures. Bridging the gap: how B2B ecommerce startup Udaan seamlessly connects India and Bharat, Here’s why Udaan, the fastest growing unicorn in India, is without a CEO. Udaan also enables these businesses like the kirana store owners, street vendors, pharmacists, small factories and contractors to source from a large selection of high-quality products at low prices. The e-commerce platform is a pure-play horizontal marketplace on which wholesalers and manufacturers can sell their products to retailers. The company also offers other services such as credit financing and logistics to connect manufacturers with retailers. The company has been in the headlines for raising back to back funding rounds, jumping valuation and the expenditure versus revenue figures it reported in the last fiscal year. In case you can’t find any email from our side, please check the spam folder. The Indian economy is believed to be driven by the consumption in the retail industry, which is believed to touch $3.6 trillion by 2020.
So far, it has been one of the few startups to achieve a private valuation of $1 billion in the shortest possible time. Click here to read the Mint ePaperMint is now on Telegram. It was founded by former Flipkart executives Amod Malviya, Sujeet Kumar and Gupta.
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