B2B e-commerce platform Excess2Sell pulls in angel funding
Summary
The Mumbai-based company raised this funding from Gautham Madhavan, an angel investor and a director at growth-stage private equity firm Florintree Advisors. The startup said it will use the capital to enhance its technological infrastructure, as well as expand its geographical reach and the number and variety of B2B buyers and sellers registered on its platform. According to VCCEdge, the data research arm of Mosaic Digital, Checkers India had raised funding from other angel investors such as Ashima Brejesh Chhalill, Jyoti M Nair and Sandeep Vyas in 2017 and 2018. The bet on Excess2Sell is another commitment to a startup operating in the B2B segment, which in the past few years has received far more investor attention as the business-to-consumer market in India has shrunk to a few players. In September last year, Udaan raised around $300 million in its Series D funding round from investors including Altimeter Capital and Footpath Ventures.