Udaan, the country biggest B2B marketplace, has invested over ₹4,000 crore over the last 12-18 months across technology, supply chain, and other areas and is aiming for a 100 per cent year-on-year growth this financial year, co-founders of the startup said in an internal mail to its employees on Tuesday,
"Over the years, our business model has continued to evolve as per the market requirements and become sharper. We have invested more than ₹4,000 crore in the past 12-18 months across different pillars of business - technology, supply chain, category, credit, people, compliance etc. - to accelerate and strengthen our capabilities. This is already showing in our growth and we continue to aim for 100 per cent YoY growth this financial year." the co-founders, Amod Malviya, Sujeet Kumar and Vaibhav Gupta said.
They said that the second Covid wave did slow down the startup's momentum by a quarter. "Our cost of doing business went up as we decided to serve our customers within the lockdown restrictions. Our commitment and resilience to continue serving our customers in a better way, no matter how hard the challenges, have taught us to adapt quickly and manage these short-term disruptions," they said.
The co-founders also pointed out that the company is relooking at elements of its revenue and cost and making choices more effective and efficient. The company also wants to simplify its organisational structures & processes to help us grow faster, the internal mail said.