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The Indian social business start-up, GlowRoad, announced today that it raised $ 10 million in Series B. The tour was led by CDH Investments, a Chinese investment company, with the participation of investor Accel Partners.
The latest funding from GlowRoad, a $ 2 million A series run by Accel, was announced in September 2017, just months after its launch. Sonal Verma, a physician, focused on community medicine before founding the telemedicine company HealthcareMagic in 2008. During her medical work, Verma realized that many stay-at-home moms and housewives resold products in their homes. their neighborhood. GlowRoad was created to help them put their businesses online by delivering the products directly.
GlowRoad selects the manufacturers before adding them to their platform, then the GlowRoad sellers decide which items to add to their stores and how to market them. The company now boasts more than 100,000 resellers, 20,000 suppliers and 300,000 buyers. The Meesho resale platform, which has collected a total of $ 65.2 million from investors including Shunwei Capital, Sequoia Capital India, RPS Ventures, Y Combinator, Venture Highway, SAIF and DST Partners, according to Crunchbase is one of the main competitors.
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