Gurugram-based tech startup Wydr, a mobile wholesale market place raised second round of series A funding from bunch of investors like Bessemer Venture Partners, Stellains Ventures Partners and Jungle Venture Capitals. It is also said that Axis Capitals from Singapore have also joined the rounds.
Founded in March 2016 by Devash Rai, is an IIM-Culcutta alumna. The company connects manufacturers, wholesalers and retailers. Wydr deals with the products of categories like fashion, automobile, home and electronics. The user can browse the product and order them, which will be delivered to anyplace in the country. The company claims that about 1,000 merchants sell their products and over 200,000 users have downloaded the app. Wydr was previously funded by the same investors from their initial state.
Mr. Rai, co-founder and CEO of the company says “Wydr app enables easier sourcing and better pricing for retailers while opening up new avenues of sales and better stock liquidation to the merchants. Currently we are expanding the product portfolio and bringing more merchants on board.”
About their investment, Rahul Chaudri from Stellair Venture Capital says “B2B ecommerce is a very attractive segment and we believe the timing is right for innovation in this segment.”
Bessemer Venture partners are the oldest venture capitals firms in the world. They have funded well know startups like Pinterest, Bigbasket and LinkedIn.
Amit Anand, founding & managing partner, Jungle Ventures, said, “The wholesale market in India is extremely unorganized and fragmented. We believe that there is significant headroom for technology innovation and business growth in this segment.” Read more about Indian Funded Startups.