Online Marketplace Aadi Raises Investment From Paragon Group
Online eCommerce Marketplace startup Aadi has raised an undisclosed amount of investment from Paragon Group, the company announced today in a blog post on its website. While the company did not disclose the size and details of the investment, the announced said that after the investment Paragon Group owns a 35 percent equity of Aadi.
The company says the new investment would allow it to invest in building a cross-border e-commerce operation from Bangladesh. The company particularly aims to serve NRB (Non-Resident Bangladeshi) community across the world.
Launched in December 2018, Aadi has positioned itself as a cross-border ecommerce platform that aims to enable local fashion retailers and manufacturers to sell internationally. The company says, it already has 100+ partners on its platform who are selling globally through Aadi’s online marketplace. Although the company talks about manufacturers and retailers, it is not eyeing B2B market. Rather a B2C play where it would enable local retailers to sell Bangladeshis living abroad.
The company says it has a strong strategic partnership with DHL as its logistics partner and can deliver products to 220+ countries within 3-5 days.
Some 10 million Bangladeshis live abroad and a large number of these people buy Bangladeshi products on a regular interval. While there is a strong demand among non-resident Bangladeshi for made in Bangladesh products, the nature and size of that market remain a question.