Glowroad series B funding Highlights
- $10 million investment is led by Chinese investment firm CDH Investments, previously had raised $2 million in a Series A funding.
- Founded in 2017 by Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu, and Nilesh Padariya.
- It enables suppliers to sell their products to end customers through resellers. They have more than 100,000 resellers, 20,000 suppliers and 300,000 buyers on its platform.
- Glowroad will use the fresh funds for marketing, improving the user interface, and expanding its customer base.
Social Commerce platform, Glowroad raises $10 million series B funding led by Chinese investment firm CDH Investments with participation from an existing investor Accel.
GlowRoad is women-only reseller network selling across 400+ cities globally. It enables women to earn from home by starting a reselling business at zero investment, at the same time providing suppliers with a great channel to grow their business rapidly.
Previously it had raised $2 million in a Series A funding from Accel Partners in 2018.
GlowRoad will use the funding for marketing, improving user interface, and expanding its customer base. “The target is to increase the current 15,000 transactions a day to 100,000 transactions per day,” said Sinha, chief executive officer (CEO), GlowRoad to Livemint.
Other startups in this space are Meesho, Shop101 and Whooplr. Meesho raised $50 million in series C funding in Nov 2018 from DST Partners, RPS Ventures, Shunwei Capital. Shop101 also raised $11 million in series B funding from Kalaari Capital, Unilever Ventures.
[bctt tweet=”Glowroad Secured $10 million in a Series B funding from CDH Investments. #funding #startup #entrepreneur #bizztor @Accel_India #CDHInvestments #Glowroad” username=”Bizztor_in”]