Ultimodeal to raise $2 million and launch its new platform.

KATHMANDU, July 30: Ultimodeal, a Nepalese eCommerce Start-up aiming to offer better services and quick delivery is planning to launch its new applications after completing series A funding round. 

The series A funding round is led by actress Shweta Khadka, which aims to raise a capital fund of 2 million dollars. The funding round will close in December later this year. The company will use cash invested to fund its expansion throughout  Nepal,  focus on technology research and development and proper logistics management. 

The start-up, which was co-founded by Manish Ghimire has evolved to make products easier to discover and purchase through its online platforms. It has also enabled small businesses to sell their products at a scale that was not possible with a traditional offline retail store. ” Even larger companies are now approaching us to market their product through our online platform," Said Manish Ghimire.

The company had chosen the Nepalese market due to the tremendous potential seen in the eCommerce industry of the country as people are still not used to eCommerce services. 

People are getting familiar with the services but the trend of buying through social media such as Facebook pages is much higher. There exists a gap between people wanting to buy products online as they are not getting the products shown in the picture or promised products. This is due to a huge number of people creating Facebook pages which are affecting the existing eCommerce companies. 

Ultimodeal, through its newly developed scalable applications, will provide a better user experience and focus on customer satisfaction. The application is currently in the testing phase. The beta version of the app and web will be available by October according to the engineering team of Ultimodeal. They have been developing the product with an AI recommendation system for the last 8 months. One of the spokespeople said “ We have built an integrated system for logistics which in future can directly track real-time data of moving products both inside as well outside the Kathmandu Valley. “

The company’s hope has increased since the pandemic has shifted a huge number of consumers towards online shopping. 

“ The past year has seen more and more eCommerce services evolving. This means the competition is much harder. We have an Alibaba-owned company called Daraz to learn from.” Says the chief executive and co-founder. 

We are excited to launch our product and expand our services to more and more cities of  Nepal with quality assurance and quick delivery.