Beldara, a B2B marketplace that connects India’s manufacturers with buyers at retailers and importers worldwide, says it will use $7.4 million in venture capital to expand its product categories.
The Mumbai, India-based marketplace, at Beldara.com, plans to develop its new Farm 2 Globe program of connecting Indian farmers with international buyers, according to co-founders Pradeep Khandekar and Vinod Singh.
Since it launched in 2018, Mumbai, India-based Beldara says it has attracted more than 2 million users from more than 127 countries to shop among 40 product categories, ranging from apparel, kitchenware, agricultural and automotive products to construction equipment and stainless steel. The marketplace provides a Beldara mobile for Apple and Android mobile devices.
The funding is from Hindustan Media Ventures, a unit of HT Media Ltd.
More than 10% of buyers on Beldara come from North America and Europe, a Beldara spokeswoman says.
Beldara charges no fees to buyers on its platform. Suppliers can list products for no charge, but Beldara charges transaction fees valued at 3% of the sale.
Beldara offers three membership plans to suppliers to help them promote their products and brands, with prices ranging from $404 per quarter to $1,349 for a full year. It also provides an online payments service through BeldaraPay and express and ocean-borne shipping services.
Khandekar, Beldara’s managing director, is a former chief technology officer of RupeeBoss.com, a financial services website; and vice president of engineering at Nykaa.com, a beauty products retail site. RupeeBoss and Nykaa are also based in India.
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