3 friends fly high, their e-commerce start-up crosses $2.5 bn in valuation

The former Flipkart executives' B2B e-commerce start-up valuation crosses $2.5 bn in three years

Business-to-business e-commerce start-up udaan is now valued at around $2.5 billion after the latest financing round when it raised $585 million. The firm was founded in 2016 by former top Flipkart executives Amod Malviya, Sujeet Kumar, and Vaibhav Gupta.

Malviya, Kumar, and Gupta, who are all engineers from the country’s top Indian Institute of Technology (IITs), hail from small towns in states of Uttar Pradesh and Bihar, where, growing up, they didn’t have access to supermarkets, and had to travel to the nearest big city large purchases.  An alumnus of IIT-Kharagpur, Malviya was the chief technology officer of Flipkart and quit