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Automobile marketplace Droom’s founder and ex-Shopclues CEO, Sandeep Aggarwal has invested an undisclosed amount in performance based wholesale marketplace, Wydr.
The company is also in talks with potential investors for another funding round in order to raise around $2 Mn as fresh funds.
Started in July this year, Wydr is founded by Devesh Rai G, who was the founding team member of ShopClues. It is a mobile app only platform that provides end-to-end ecommerce marketplace platform that makes wholesale buying and selling more organized, quicker and easier.
According to Devesh, wholesale segment controls much of the entire distribution within India, and yet there have been no innovations that could overcome the challenges associated with the sector.
With Wydr, Devesh aims at creating a unique platform that will cater specifically to the demands of Indian Wholesale Market and address their three fundamental needs, that is speed of business, trust and transparency.
Wydr is targeting around $300 Bn worth Indian Wholesale market which has millions of wholesalers and more than 14 Mn retailers currently. The startup aims at integrating the real-world wholesale practices with the benefits of mobile technology.
Wydr offers tech-driven business solutions to make the wholesale buying and selling experience organised, seamless and hassle-free through features such as real-time catalogue sharing, network building, deal discovery, order processing and reach expansion through unique chat-enabled features.
However, for Sandeep, it wasn’t just the highly disruptive business idea that led him to invest in the venture. He said,
Wydr fits in perfectly into my vision of game-changing entrepreneurial venture and has the potential to aggregate the wholesale market at an unprecedented scale. Moreover, I have always believed that any business idea, no matter how novel, is only as strong as the people driving it. Having known Devesh from my time in ShopClues obviously had a positive influence on my decision, as I am well aware of his pedigree, strong e-commerce experience, and deep understanding of the seller psyche in Indian retail. I have full confidence in his abilities to make the venture a success.
Sandeep Aggarwal is a serial entrepreneur and passionate early-stage investor. After his stint at Shopclues, Sandeep founded an online automobile marketplace, Droom in 2014. With an aim to expand its operations to add 20 automobile and 12 service categories hosting over 50,000 sellers and 200k listings in the next two years, Droom has also tied up with JetSetGo, an online marketplace for private jets and helicopters to mark its foray in aerial vehicle segment. Recently, it also launched a C2B marketplace.
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