Udaan Cofounder Amod Malviya Floats New Venture ‘Pre6’

Two months after stepping down from Udaan’s board, the B2B marketplace’s cofounder Amod Malviya has floated a new venture ‘Pre6’. 

In a post on LinkedIn, Malviya posted a picture of the founding team along with the announcement saying, “New beginnings!”

He has teamed up with Udaan’s former chief financial officer (CFO) Rishi Kedia to incorporate the new Bengaluru-based startup. Malviya’s profile shows that he has been working on the new platform since November 2024.

However, there is no clarity on what the new platform will offer, barring that it will be a “technology, information and internet” company. The startup’s website is not operational so far and just displays “coming soon”. 

Entrackr was the first to report the development. 

An alumnus of IIT Kharagpur, Malviya is one of the members of the Flipkart mafia. He resigned as the chief technology officer (CTO) of the ecommerce juggernaut in 2015 to float the B2B ecommerce platform Udaan a year later in 2016. 

Malviya stepped down from an operational role at Udaan in 2022 and subsequently resigned from the startup’s board late last year. His new venture comes at a time when the B2B ecommerce platform has been bracing through choppy waters. 

In 2023, Udaan’s valuation fell to $1.8 Bn amid the raging funding winter, far from its last valuation of $3.2 Bn in 2020. The startup also marked the final close of its INR 300 Cr debt funding round from Lighthouse Canton, Stride Ventures, InnoVen Capital and Trifecta Capital in October last year.

On the financial front, the B2B ecommerce major has been struggling to scale up. It reportedly managed to increase its gross revenue by a marginal 1.72% to INR 5,706.6 Cr in FY24 from INR 5,609.3 Cr in FY23. Its loss declined 19% year-on-year (YoY) to INR 1,674.1 Cr. 

Malviya’s move to float Pre6 also comes amid a growing number of startup cofounders launching their new ventures. Earlier this week, it was reported that upGrad cofounder Mayank Kumar has launched a new startup called ‘BorderPlus’.

In 2024, DealShare cofounder Sourjyendu Medda ventured into the sportstech arena with the launch of his new startup, Sports For Life. Koo cofounder Mayank Bidawatka also launched Billion Hearts Software Technologies in September 2024 to build consumer products for global users.

Fintech startup PaySense’s cofounder Prashanth Ranganathan, too, launched his overseas education-focussed fintech startup Zinc last year, which bagged $25.5 Mn in its seed funding round led by Nexus Venture Partners.