Trustroot Internet, a Singapore-based parent entity of a fintech and e-commerce startup Udaan, has bagged $300 million (approx ₹2143 crore) funding in its series D round from Altimeter Capital, Footpath Ventures, GGV Capital, and Hillhouse Capital.
While, DST Global and Lightspeed Venture Partners also participated in the round.
The Bengaluru-based Udaan was founded by Amod Malviya, Sujeet Kumar and Vaibhav Gupta in 2016. It is aimed at making business easy in India, and making B2B commerce convenient and efficient.
As per its website, India has 50m+ SMBs, who form core of Indian economy and society. They are the entrepreneurial pulse of India.
The platform believes that internet is a great equalizing platform. It want to bring its energies together in bringing power of Internet to the millions of entrepreneurs.
Currently, the company is valued at $2.7 billion. The company connects manufacturers and wholesalers with retailers online, and has more than 1,50,000 buyers and sellers from 29 states on its platform.
Some of the other similar startups include Biizongo, Moglix, Jumbotail, Power2SME, ShopKirana, Just Buy Live, etc.