Unicorn startup Udaan (an e-commerce startup)Story
UDAAN - INDIA'S FASTEST UNICORN STARTUP
UDAAN is the B2B marketplace of retailers,wholesalers,traders and manufacturers. It is designed for MSME businesses.In simple words we can say that it is a place where manufacturer,retailer,wholersalers and traders can buy & sell their products through an UDAAN's online site or mobile app.UDAAN platform is run by hivelooptech pvt.ltd.
ORIGIN OF UDAAN
UDAAN startup founded in 2016, bengaluru by CO-FOUNDERS - VAIBHAV GUPTA, AMOD MALVIYA, SUJEET KUMAR. All three co-founders of UDAAN is the former employees of FLIPKART when the owners of flipkart is SACHIN BANSAL AND BINNI BANSAL where VAIBHAV GUPTA was senior vice president at finance and analytics.AMOD MALVIYA was the C.T.O in flipkart and SUJEET KUMAR was the senior operations executive.
When UDAAN was started it only work as a logistics platform wholesalers,retailers and traders.Now UDAAN is the combination of logistics,marketplace and lending.It helps in buying and selling of commodity in the market.
Revenue model of UDAAN is very simple and straight forward. UDAAN charges a certain rate of commission on total sales on the basis of different categories and volumes.
Let me explain how it works UDAAN helps Businessess in discover customers, wholesaler, trader, manufacturer and different types of products. udaan is a b2b marketplace on which manufacturers,traders, wholesalers connected to buy and sell via UDAAN platforms such as website and App.It provides logistics support,technical support, secure payment service and lending service upto 2.5 lakhs.His idea is not believe in owning assets.
| FOUNDERS | VAIBHAV GUPTA, AMOD MALVIYA AND SUJEET KUMAR |
| FOUNDED | 2016 |
| LOCATION | Bengaluru |
| ADDRESS | No.1090G ,18th cross,14th main,sec-3,HSR layout,Bengaluru,Karnataka,pin-560102,INDIA |
| INDUSTRY | B2B,E-commerce, Supply chain management |
| UDAAN WEBSITE | https://udaan.com/ |
UDAAN is the fastest growing b2b e-commerce startup in India.In 2018 UDAAN entered the unicorn club. Basically,unicorn is privately held startup valued 1 billion rupee or more.
UDAAN got funding from various investors in different rounds.His biggest investor is Lightspeed venture partners U.S and lightspeed venture partners India.
Initial days of startup is very tough at that time it requires more fund to survive and make his brand into the market.UDAAN financed by udaan owners and no-banking partners such as:
| INVESTOR NAME | AMOUNT RAISED | DATE | FUNDING NAME |
| Lightspeed venture partners india and u.s | $10 million | Nov 2016 | series-A |
| Light speed venture partners, lightspeed venture partners india and Apoletto | $50 million | Feb 2018 | series-B |
| DST global and lightspeed venture | $225 million | Sep 2018 | series-C |
| tencent holdings, altimeter capital, hillhouse capital, footpath ventures,citi ventures, GGV capital,DST global and lightspeed venture | $585 million | Oct 2019 | series-D |
UDAAN's growth is much higher than his competitor such as Zoomtail and Tradekosh.Behind the UDAAN's growth one important factor is Advertising.udaan advertised but limited whereas zoomtail and tradekosh does not advertise. I don't think you know zoomtail and tradekosh but i'm sure that after seeing advertisements on television and social media you remembered what it is.
UDAAN reported 46 crore rupees in 2020 in which more than 50% of earning generated through home delivery.
During wuhan's covid-19 outbreak in india, where almost e-commerce startups not working.Udaan continously works to ensure regular supply of logistics and medicine to wholesalers, reatilers and customers.
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