Udaan Secures $340 Million in Series E Funding Round

 B2B e-commerce platform Udaan has successfully secured $340 million in its latest Series E funding round, led by M&G Plc, with notable participation from Lightspeed Venture Partners and DST Global.

The funding includes a combination of equity and convertible notes, marking a strategic move for Udaan as it seeks to enhance its customer experience, expand market reach, forge strategic vendor partnerships, and reinforce the long-term capabilities of its supply chain and credit systems, according to a company press statement.

Udaan's co-founder and CEO, Vaibhav Gupta, expressed enthusiasm about the funding, stating, "It enables our continued journey of growth and profitability, positioning us well to be public-market ready in the next 12-18 months."

Although specific details about the valuation remain undisclosed, it's noted that the equity component is likely to reflect a more conservative valuation. Udaan had previously reached a peak valuation of approximately $3 billion.

Founded in 2016, Udaan specializes in streamlining supply chain and logistics operations, concentrating on B2B trade for daily deliveries across more than 1,200 cities through its udaanExpress service. The platform spans various sectors, including lifestyle, electronics, home & kitchen, staples, fruits & vegetables, FMCG, pharma, toys, and general merchandise. Udaan boasts a substantial network, with over 3 million retailers and thousands of sellers actively engaged on the platform nationwide.

Despite a dip in gross revenue (GMV), which contracted by 43.1% to Rs 5,629 crore in FY23 from Rs 9,900 crore in FY22, Udaan demonstrated resilience with losses narrowing by 33.7% to Rs 2,076 crore in FY23 from Rs 3,132 crore in FY22, as per financial statements filed by its group company, Trustroot Internet in Singapore.

While Udaan experienced organizational restructuring last year, involving the laying off of around 500 employees across two phases, the company clarified that these actions were part of an efficiency enhancement initiative and not indicative of financial distress. Udaan remains focused on strategic growth, innovation, and fortifying its position in the dynamic B2B e-commerce landscape.

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ERP Solutions Startup Icertis Raises $15 Mn From Ignition Partners

ERP Solutions Startup called Icertis raised $15 Mn funding from Ignition Partners in their Serious-B round according to ET Report. some other investor are also takes part in this funding.

Also read :Hindi Is Important And We Come With Hindi Language Startup Story Blog

Icertis mainly SaaS based product which helps in managing enterprises wide contacts, it included all buy side or sell side or employ contacts and last but least ESOPs solution.

Aslo read :This Time Flipkart Parent Company Inverts $50 Million In Myntra

Icertis was started in late 2009 by Monish Darda and Samir Bodas, they have their branch office at Pune, previously company raised a amount of $6 Mn from US Based investor. Startup founder seems to be happy with their serous-B round funding, Founder told that they will use their funding to increase work force and to increase the quaility of heir product.

Also read : Top 6 Online Mobile Recharge Website Startup In India

As we all know that after the year 2015, we came to know that their is 500% growth noted in SaaS based startups in India, and founder knows that their is more than $200 Billion market of Saas in India.
Website

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This Time Flipkart Parent Company Inverts $50 Million in Myntra

Flipkart a India's top eCommerce company reported to invest $50 Mn on its partner eCommerce company Myntra, which is online fashion mega store. According to Roc filling we got to know that Filpkart pumped Myntra to compete its reveal company Jabong.

This Funding helps Mynta to boost their services and also helps them to expand more in their niche.

Also Read : Hindi Is Important And We Come With Hindi Language Startup Story Blog

This all happens after their top competitor Jabong succeed to raise fresh funding of $20 Mn from Global Fashion Group.

Also Read : TVF Pitchers Makers, Finally Raised Their Funding

According to Inc42 report, This year Myntra revenue jumped upto 77% which very good for any company. This year Myntra made (INR 780 Cr) with the total loss of (1.278 Cr), according to ROC.

Also Read :Why Rahul Yadav Is Considered As Drama King Of Startup World

Flipkart don't wants to see their company to lay down in any ways and that's why they are totally ready to face any type of financial loss in any terms, they only wants to lead in market.   

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TVF Pitchers Makers, Finally Raised Their Funding

The Viral Fever (TVF) which is the first Indian YouTube channel who are making serious of videos based on comedy, romance, drama. TVF is started by a IIT graduate Arunabh Kumar in 2010, before starting TVF Arunabh also works in many bollywood movies in making or we can say directing them, He also worked in Om Shanti Om as a assistant directory with well known Farah Khan.

Mumbai-based TVF has raised a amount of $10 Mn (INR 65.6 Cr) from Tiger Global Management, Acc. to a RoC filing Report. Temasek Boulevard which is also a popular Angel Funding company takes part in the Funding round and Tiger has invested in The Viral Fever(TVF) from its Internet Fund III Pte. Ltd.
According to registrar of companies (Roc) Now company valuation jumps from $45 Millions to $70 Millions. But we do not received and confirmation about the valuation from TVF team or nor from firm founders.

Story of The Viral Fever (TVF)

Arunabh Kumar is comes from Muzaffarpur in Bihar, his born in middle class family and as we all knows that how much discipline family in which we are suppose to live and this is running as same in Arunabh Kumar life, some times his parents does not likes his school so they change its school without asking him, when he does not like school he ran's away.  With a strict disciplinarian family, Arunabh kumar future was nearly decided.  He asked to prepare and go for JEE exams, but in first time Arunabh unable to secure marks to qualify IIT so he moved kota for preparing it, then after first year second time Arunabh finally got IIT Kharagpur.

Actually Kumar does not life life at IIT Kharagpur because of its silent environment and now he was completely bored.

Kumar also Say's that ''At the end of every semester he used to pick a different career choice, In first semester he wanted to go for economist, in second semester he wanted to go for an MBA, in third he decide that he will be a coder and in fourth semester he decide that now he will join UPSC. So at end of Evey semester he used to change his careers choice''

After doing lot of projects Anurabh meets lot of creative people at IITK and start taking part in various short films and then after Anurabh finally realize his inner potential of movie direction and then after he use to take part in directing many short films, Arunabh life changed when he Finally got an opportunity to part in Om Shanti Om as assist with director Farah Khan after completion of Om Shanti Om Anurabh start getting working in some other Bollywood movies and he also won many awards.

Beginning of Qtiyapa

In late 2009 Anurabh stacked with idea of short movie called Engineer’s diary and he approached many TV channels like MTV and some other but all other refuse to work on his idea and then finally Anurabh decide to go with YouTube and after uploading his first episode the video gets viral and TVF got more than 70000+ previews and 2000+ channel subscribers.

After TVF gets popular they decide to launch some serious of videos and which result came in form of TVF Pitchers, and Permanent roommates.

Today TVF Pitchers is one of most popular YouTube serious and TVF is first Indian YouTube Channel having 1 Million Channel Subscriber.

While you can contact Anurabh on Twitter and watch some great TVF videos, WhatBigNext Team wish him an amazing journey in his future endeavors.

 

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Mobile Wallet Mobikwik Raises Funding of $6.5 Million from Sequoia Capital

Mobikwik which is one of most used wallet after Paytm wallet in country is raises an amount of $6.5 Mn additional funding which approx. INR 44 Billion in mix of debt from their current investor  Sequoia Capital and Tree line asia. Mobikwik is Gurgaon based online digital wallet which was launched by Bipin Singh and Upasna Thaku in late 2009. Mobikwik is mainly online recharge payment website which is mainly focus on wallet based payment model. In the starting of 2015 Mobikwik officially claimed that they are doing INR 1 Billion transaction daily and having more than 25 million wallet users who use Mobikwik wallet in their own and different merchant websites.

The funding is a part of Seriese B round which firm raised in the moth of June,2015. In Serise B round, some other big VC's participated like Cisco Investments and American Express.

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Firm is mainly used the fund in improving the brand value and finding more talent for their growth and development. Firm is also going to invest a huge money in marketing of Mobikwik like advertisement on TV and some other. Mobikwik founders also tell that they want to expand in offline payment market and going to burn their most of money in expanding in that sector.

Mobikwik Started :

Mobikwik is Gurgaon based mobile wallet which is started in back 2009 by Bipin Singh and Upasna Thaku with a dream to change the payment mode in India. At the start of their venture they have wallet money adding feature which only used in their own website for making payment at the same time Mobikwik founders realize that the Payment gateway are not doing well on that time and 90 % of failure of payment or recharge which is main business of firm is just because of payment gateway. After using many gateway services they decide to create their own payment gateway for their startup which create a revolution of trust which the main key to get success of any startup is change is truth.

After the rocket success in their field they decide to expand in mobile wallet space which is their main dream and change the hand to hand payment structure in digital payment mode. Now Mobikwik has done a tie up with more than 25000+ merchants to pay though Mobikwik wallet. Recently IRCTC added Mobikwik wallet payment option which one of top achievement for Mobikwik because now more than 100k daily IRCTC users have option to use Mobikwik wallet to pay. Mobikwik enable user to pay on different most used platform like Café Coffee Day, Pizza Hut, JustEat, eBay, Jabong, ShopClues, HomeShop18, PVR, Domino’s Pizza, TastyKhana, Snapdeal among others.


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  15 Ways To Get Quality Backlinks To Your Blog In One Month
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  Freecharge Gets Brand New Office For Their Bangalore Employees

Did Digital Wallet Payment Structure Change The Way of Payment?

Digital Wallet which enable user to make payment online which refer as ''Digital Payment''. In the starting of 2015 their is a huge change is seen in the growth in Digital wallet based payment in country like India. Complains like Paytm change their business model and expand in wallet sector and current Paytm having more than 100 million wallet user on their platform. Some of other big players like Mobikwik also doing well in wallet sector and recently Freecharge after undertaking by Snapdeal realize the potential of mobile wallet and launched their wallet in partnership with Yesbank because Freecharge does not having any digital wallet licence.

So what do you think, Is it possible that all payment which is near about 98% payment change its mode to digital payment?. Tell us in comment section below.

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