M&A
Salarpuria Sattva to take over consumer electronics biz of Cloudtail
The Salarpuria Sattva Group has incorporated a company which will take over the entire consumer electronics business of New Delhi-based Cloudtail, currently the largest seller on Amazon's marketplace in India. The new company, Bengaluru-based Dawntech Electronics, is the first such independent preferred seller that is getting the business of Cloudtail, which earlier this year announced that it would wind up operations by next May. Amazon is in the process of appointing sellers in other categories to take over from Cloudtail. It would not own any stake in these sellers.
Between Jun-14 and Feb-19, Cloudtail raised funding from Catamaran Ventures.
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