China’s CDH leads funding round in GlowRoad
Women-focused reseller platform GlowRoad, run by Accelerator Enterprises Pvt. Ltd, has secured $10 million (Rs 69 crores) in a Series B funding round led by Chinese alternative asset management firm CDH Investments. Existing investor Accel India also participated in the round, a report in a Chinese technology news publication said.
The company will use the money to build its supply chain and for business development, the report added.
In September 2017, GlowRoad had secured $2 million (Rs 12.8 crore) in Series A funding from Accel Partners.
The venture was earlier known as LocalQueen.com and rebranded as GlowRoad in June 2017 by Sonal Verma, a doctor by qualification. The company connects housewives, who want to start a reselling business at home, with suppliers.