20 January 2017, India:
Mobile-based wholesale marketplace Wydr has raised a fresh round of undisclosed capital from Stellaris Venture Partners, Bessemer Ventures and Jungle Ventures. Singapore-based Axis Capital also participated in the round as per the ET report.
Wydr is a mobile-based marketplace platform for Wholesale Buying and Selling. Designed specifically for this trade, Wydr makes wholesale buying and selling more organized, quicker and easier. As a platform, it enables you to bring your wholesale business online. The startup takes care of all the hassles of e-commerce.
“The wholesale market in India is extremely unorganized and fragmented. We believe there is significant headroom for technology innovation and business growth in this segment,” said Amit Anand, Founding and Managing Partner, Jungle Ventures.
Gurgaon-based Wydr was founded in March 2016 by Devesh Rai, Hitha Uchil, and Varun Guru. Wydr plans to utilize the fresh funds to expand its seller base across wholesale hubs in India, An introduction of new categories and technology innovation delivering more value to its B2B users.
“Our app enables easier sourcing and better pricing for retailers while opening up new avenues of sales and better stock liquidation to the merchants,” Devesh Rai, the CEO of Wydr told ET, adding that he plans to expand the seller base from 3,000 to 15,000 in the next six months.
“With multiple layers between manufacturers and retailers, there is a massive disintermediation opportunity to build a scale tech-enabled business,” Rahul Chowdhri, Partner, Stellaris Venture Partners told ET.