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Unicommerce Returns $10 Mn To Tiger Global, Eyeing Snapdeal For Possible Acquisition

Unicommerce Returns $10 Mn To Tiger Global, Eyeing Snapdeal For Possible Acquisition

Online order management startup Unicommerce which recently raised $10 Mn in funding from Tiger Global has reportedly returned the funding raised to the Venture Capital Firm and is now in talks with Snapdeal for a possible acquisition.

A source close to the development, said, “Talks are in the later stage and this deal makes strategic sense for both parties.”

The acquisition, if happens, will value the Unicommerce at up to $10 Mn.

Snapdeal founders Kunal Bahl and Rohit Bansal are among the angel investors in the company which was founded by IIT Delhi Alumni Ankit Pruthi, Karun Singla and Vibhu Garg. Nexus Venture Partners is also an investor in Snapdeal.

It’s flagship product, Uniware manages the complete order fulfillment lifecycle by providing updates and by automating everything from order placement by the customer till the time they receive their order.

Unicommerce comes integrated with marketplaces and cart solutions including Shopify, Magento, Amazon, Ebay, Flipkart, Snapdeal and many more.

This will be the sixth and biggest acquisition for Snapdeal since its inception. Recently, Snapdeal had acquired online gift retailer Wishpicker. However, Snapdeal declined commenting on this development.

Unicommerce competes with Browntape. Last month, KartRocket had raised $2 Mn in its Series A round led by Nirvana Venture Advisors, 500 Startups and Japan-based Beenos (NetPrice).

Author

Pooja Sareen

Inc42 Staff

Editor and Co-founder @Inc42. Pooja keeps a close eye on ecommerce, agritech, government policies, and numbers are her soul food. She can be reached at [email protected]

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