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Glowroad Secured $10 million in a Series B funding from CDH Investments

glowroad

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.

Bangalore based startup was founded in 2017 by Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu, and Nilesh Padariya.

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.

Website: https://glowroad.com

Glowroad Secured $10 million in a Series B funding from CDH Investments. #funding #startup #entrepreneur #bizztor @Accel_India #CDHInvestments #Glowroad Click To Tweet

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