Total amount raised
$31.3 Millions
Latest funding date
11/01/2020
Location
GlowRoad has successfully raised funds through multiple rounds, with its last known funding round being a "Venture - Series Unknown" on November 2, 2020. The platform has attracted the attention of notable investors, including IND Fund and Vertex Ventures.
Acquired by Amazon on April 22, 2022, GlowRoad continues to operate actively, offering users the opportunity to resell products directly from manufacturers and wholesalers through social networks. Keep reading to explore the intricacies of GlowRoad's fundraising journey and the investors backing this innovative platform.
What Is GlowRoad?
GlowRoad, founded in June 2017, is a social selling platform headquartered in Bangalore, Karnataka, India. The company operates in the e-commerce, retail, and social shopping industries.
Founded by Kunal Sinha, Nilesh Padariya, Nitesh Pant, Shekhar Sahu, and Sonal Verma, GlowRoad employs between 251-500 people. The platform enables users to resell products directly from manufacturers and wholesalers through social networks, providing earning opportunities for Indian women and small businesses.
How Much Funding Has GlowRoad Raised?
- Series A
- Amount Raised: $2.8M
- Date: September 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform and enhance product offerings.
- Series B
- Amount Raised: $10M
- Date: March 2019
- Lead Investors: Accel, CDH Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and reach more users.
- Series B
- Amount Raised: $11.5M
- Date: May 2019
- Lead Investors: Korea Investment Partners, Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market reach and enhance platform capabilities.
- Venture Round
- Amount Raised: $7M
- Date: November 2020
- Lead Investors: Accel, Vertex Ventures, IND Fund
- Valuation at Round: $75M
- Motivation Behind the Round: To expand operations and scale the reseller network.
Total Amount Raised: $31.3M. Current Valuation: $75M.
Key Investors
- Accel
- Details: Accel is a global venture capital firm that invests in early-stage and growth-stage companies. They have a strong presence in the technology sector.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- Korea Investment Partners
- Details: Korea Investment Partners is a venture capital and private equity firm. They are known for their investments in innovative technology and consumer sectors.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Kakao, Naver, Coupang.
- Vertex Ventures
- Details: Vertex Ventures is a global network of venture capital funds. They focus on early-stage investments in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Grab, Waze, CyberArk.
- CDH Investments
- Details: CDH Investments is a private equity and venture capital firm. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Consumer, healthcare, technology.
- Notable Investments: Belle International, WH Group, China Mengniu Dairy.
- IND Fund
- Details: IND Fund is an investment fund that has participated in multiple funding rounds for GlowRoad. Specific details about the fund are not widely disclosed.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for GlowRoad?
GlowRoad stands at the cusp of significant growth opportunities, driven by the expansion of its women-centric reseller network and the rapidly growing social commerce market in India. With a recent valuation of $75 million, the platform is well-positioned to leverage its $7 million funding to scale operations and enhance its technological infrastructure.
Future fundraising opportunities appear promising as GlowRoad continues to demonstrate growth and attract investor interest. Potential Series B or C funding rounds could further fuel its expansion into new markets and demographics. However, the company may face challenges such as intense competition and the need to maintain user engagement and regulatory compliance.
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