Ultimodeal secures investment from Shweta Khadka in its Series A funding round. Actress, Social Activist and Entrepreneur M/s Shweta Khadka has made a significant investment on Ultimodeal and joins the board as Chairman.
What is Ultimodeal?
Ultimodeal started its operation from 2017 and is emerging as one of the trusted online sites in Nepal.
Who is Shweta Khadka?
Shweta Khadka is an Actress, Producer, Social Activist and Entrepreneur. She’s been a founder of a non profit charity called Shweta Shree Foundation. She’s acted in movies such as Kaha Bhetiyela, Hasi Deu Ek Fera, Shreeman Shreemati, Kohinoor, Kanchi, etc.
She also runs various business in different sectors and was interested in the ecommerce market seeing the growth since few years. She saw around 300% annual growth in the company and made a significant investment to fulfill the mission of digitalizing retail industry of Nepal.
M/s Shweta Khadka has made a significant investment on Ultimodeal and joins the board as Chairman.
When and how did Ultimodeal start?
Ultimodeal started its operation from 2017 and is emerging as one of the trusted online sites in Nepal. It was started by young entrepreneurs after college with a goal to provide better ecommerce service and fulfill the gap left by existing online retailers. They started with a small room, few thousand rupees and created the website by themselves as they were software developers themselves. They got excited after getting the response in their first day with 50 orders in Ethnic wears as there were very few selling those items at the time.
What does the team plan to do with the investment?
With the investment ultimodeal team will expand its products, hire necessary human resources, empower local youths without having to open a physical shop and expand its reach though out the country. “ The primary goal of the company back in 2017 was to provide ethnic wears of good quality with affordable price directly from the manufacturer. Later we diversified into other categories to provide better shopping experience to customers” Said Manish Ghimire, CEO of Ultimodeal Online Shopping Pvt. Ltd.
What makes Ultimodeal different from its competitors?
Ultimodeal differentiates itself from its competitors by collaborating directly with the manufacturers and suppliers so that customers will get the product at the best price in the market. They can get the product s as the same price in physical shops with few clicks from their home.