Wydr, a b2b marketplace has raised an undisclosed amount in Series A funding from Stellaris Venture Partners, Bessemer Venture Partners and Jungle Ventures.
The company plans to utilize the fresh round of capital to expand its Seller Base across Wholesale Hubs in India, introduction of new categories and technology innovation delivering more value to its B2B users.
Wydr enables easier sourcing and better pricing for retailers while opening up new avenues of sales and better stock liquidation to the merchants The app connects manufacturers, wholesalers and retailers, and offers products across categories like fashion, home, automotive and electronics. The platform has also integrated a chat platform on the app to facilitate price negotiation between buyers and sellers.
Launched in March 2016, Gurgaon-based Wydr run by Techwider Network India Pvt. Ltd, was founded by Devesh Rai, an IIM-Calcutta alumnus who was also a founding member of ShopClues. He has also worked with Mail Today and Headstrong in the past.
According to a company statement, Wydr already has more than 1,000 merchants selling their products on the app and more than 200,000 retailers who have downloaded the app.The company, which is currently recording $2.5 million in gross sales every month said it has a repeat buyer rate of 45% and is growing 30% every month.
This was the 2nd rounding of funding. Earlier wydr had raise angel funding from ShopClues co-founder and Droom founder Sandeep Aggarwal.