In a significant development for India’s technology sector, Amod Malviya, cofounder of B2B marketplace Udaan, has announced his latest venture, Pre6, marking his return to entrepreneurship just two months after stepping down from Udaan’s board. The Bengaluru-based startup, while still in stealth mode, is positioned to operate in the technology, information, and internet space.
Malviya made the announcement through LinkedIn, sharing a photograph of the founding team with the caption “New beginnings!” The venture brings together Malviya and former Udaan Chief Financial Officer Rishi Kedia, suggesting a potentially powerful combination of technical and financial expertise at the helm.
While specific details about Pre6’s offerings remain under wraps, with the company’s website displaying only a “coming soon” message, the startup has already generated considerable interest within the technology community, given Malviya’s track record in building successful ventures.
“The Indian startup ecosystem is witnessing a fascinating trend of successful founders returning to the drawing board with fresh ideas,” says Dr. Radhakrishnan R., Director of the Centre for Innovation and Entrepreneurship at a leading Chennai-based management institute. “Malviya’s new venture could potentially create ripple effects in Tamil Nadu’s growing startup landscape, especially given the state’s emphasis on technology and innovation.”
Malviya’s entrepreneurial journey reflects the dynamic nature of India’s startup ecosystem. An IIT Kharagpur alumnus, he first made his mark as the Chief Technology Officer at Flipkart before co-founding Udaan in 2016. Under his technical leadership, Udaan grew to achieve a peak valuation of $3.2 billion in 2020, though recent market conditions have seen this figure adjust to $1.8 billion.
The launch of Pre6 comes at an interesting juncture in the Indian startup landscape, where several successful entrepreneurs are launching new ventures. Recent examples include upGrad cofounder Mayank Kumar’s BorderPlus, DealShare cofounder Sourjyendu Medda’s Sports For Life, and Koo cofounder Mayank Bidawatka’s Billion Hearts Software Technologies.
For Tamil Nadu’s burgeoning startup ecosystem, Pre6’s establishment, albeit in Bengaluru, could have significant implications. “We’re seeing increased collaboration between startup hubs across India. A venture of this caliber could potentially establish strategic partnerships with Tamil Nadu’s technical talent pool and growing number of tech startups,” notes Sundari Velmurugan, President of the Tamil Nadu Startup Association.
The timing of Pre6’s launch coincides with challenging times at Udaan, which recently reported modest growth with gross revenue increasing by 1.72% to INR 5,706.6 Cr in FY24. However, the company has shown improvement in controlling losses, with a 19% year-on-year reduction to INR 1,674.1 Cr.
As Pre6 begins its journey, the startup community watches with keen interest to see how Malviya’s experience from both Flipkart and Udaan will shape this new venture. The company’s emergence adds to the growing trend of veteran entrepreneurs launching new startups, potentially creating more opportunities for cross-state collaboration and innovation in India’s technology sector.
