Udaan is a Private start-up run by Hiveloop Technology Pvt. Ltd based in Bengaluru that was able to secure its space in unicorn club i.e. a Privately Held start-up valued at $1 billion or more. It is a B2B i.e. a Business to Business marketplace.
It was founded in 2017 after analyzing the market by using Beta App that was launched in November 2016 by Former Flipkart employees Amod Malviya, Sujeet Kumar and Vaibhav Gupta.
While Malviya was Chief Technology Officer at Flipkart, Kumar was the Senior Operations Executive and Gupta was Senior Vice-President of Business Finance and Analytics Department at Flipkart.
Udaan is a B2B marketplace which connects traders, wholesalers, retailers and manufacturers on a single platform via a mobile app.
Udaan helps businesses discover customers, suppliers and products across categories and connect them in order to get the best deal. The platform also facilitates secure payments and gives logistics support.
There are around 1,50,000 sellers on Udaan platform across India offering products such as apparels, electronics, staples and fast-moving consumer goods (FMCG) to wholesale buyers.
Udaan has so far secured a total funding amount of $ 1.2 Billion over 6 rounds.
Its first capital infusion came in November 2016, when it raised $10 million from Lightspeed Venture Partners.
Their latest funding was raised on Jan 6, 2021 from a Series D round.
The start-up offers an employment to more than 5,000 employees working as a valuable asset for the organisation.
The organisation was able to achieve 6,286 downloads in last 30 days showcasing the success path.
It has 8,16,978 website visitors in last 30 days including visitors from India and abroad.