UditAssiduus Global, a Bangalore based e-commerce management firm, has now secured $1 million in Series A funding round for its India business.
The round was backed by the multiple investors, which includes VC Firm K Partners and a few notable HNI’s.
The startup will now going to use the new fresh funds to develop and expand the brands, especially in the domain of beauty and Nutraceuticals.
Commenting on the funding, Somdutta Singh, Founder and Chief at Assiduus Group said,
“The funding will help us aggressively to develop stronger market offerings, expand our efforts into key markets as well as broaden and accelerate product development and technology prowess. Having the financial support and domain expertise from our team leaders will help us execute our vision even more rapidly and broadly – and with the benefit of experience, perspective, and relationships of our investors who are supporting us through an accelerated growth period.”
Speaking about the investment, David Newman, HNI investor, said, “Assiduus is a great example of the type of industry 5.0 focus capital-efficient business that we like to invest in. It marries technology along with its brands to bring the highest amount of profitability for ecommerce players.”