About Hiveloop Technology Private Limited
Data last updated:
Hiveloop Technology Private Limited is a private limited company based in Bangalore South, Karnataka, India, a subsidiary of Trustroot Internet Private Limited. It operates in the general e-commerce platforms segment of the e-commerce sector. It was incorporated on 03 June 2016 and has been in existence for over 10 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U72900KA2016PTC093868. Its GSTIN is 29AADCH8879C1Z5 (Karnataka). The company holds 28 GST registrations, all of them active.
The company has an authorised share capital of ₹10.5 Cr and a paid-up capital of ₹6.62 Cr. It is led by directors including Bannari Jagathish (Whole-Time Director) and Krishna Menon Vishnu Menon.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore South, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹345.72 Cr, a decline of 29% compared to the previous year. For the same year it recorded a net loss of ₹657.82 Cr (net margin -190.3%) and EBITDA of -₹621.95 Cr (EBITDA margin -179.9%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 71% over five years.
The company has about 1,124 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 5 brands: DP Mart, Udaan Express, WholeSher, Udaan and Hiveloop. As per MCA filings, the company has open charges of ₹130 Cr and satisfied charges of ₹1,035.32 Cr on record. Court records list 32 cases involving the company, including 12 filed by the company and 17 filed against it; 11 cases are pending. The company has 30 deals on record (11 funding rounds, 9 rights issues, 9 debt financings), with disclosed funding of ₹4,387.19 Cr; the latest was in July 2026. The company has 12 MSME Form 1 returns on record between 2019 and 2024, listing 213 overdue payments to 46 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website udaan.com.
- EmailLocked
- TelephoneLocked
- Website
- Social Media
- Registered AddressTwa – Sjr – The Hub 1st Floor Of South Wing Survey Number 8 2 & 9, Sarjapur Main Road Sarjapur – Marathahalli Road Bellandur, Bangalore South, Karnataka, India – 560102
- IndustryE-Commerce, General E-Commerce Platforms
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Business Activity of Hiveloop Technology Private Limited
The main business activities of Hiveloop Technology are transport and storage and information and communication. In detail, this covers land transport via road and other information & communication service activities. 2 activity segments are registered with the MCA.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| H | Transport and storage | H1 | Land Transport via Road | Locked |
| J | Information and communication | J8 | Other information & communication service activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Hiveloop Technology Private Limited FY 2024 filings available
Hiveloop Technology Private Limited reported revenue of ₹345.72 Cr (down 29% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR) of Hiveloop Technology Private Limited
Revenue fell 29% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 71%. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary of Hiveloop Technology Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹621.95 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹657.82 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Hiveloop Technology Private Limited
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -179.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -190.3% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Hiveloop Technology are in the company report.
Financial statements from FY 2017
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Auditor Details of Hiveloop Technology Private Limited
Hiveloop Technology Private Limited is audited by S R BATLIBIO & ASSOCIATES LLP for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S R BATLIBIO & ASSOCIATES LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Hiveloop Technology Private Limited
Hiveloop Technology has 3 current directors and 10 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Krishna Menon Vishnu Menon Also directs: Hiveloop E-Commerce Private Limited, Newloop Apps Private Limited | Director | 14 Oct 2022 | 3 Years 11 Months | Current |
| Ankit Gupta Also directs: Newloop Apps Private Limited, Digitrail Technology Private Limited, Singhal Retail Solutions Private Limited and 1 more | Director | 30 Sep 2024 | 2 Years 0 Months | Current |
| Bannari Jagathish | Whole-Time Director | 05 Aug 2025 | 1 Years 2 Months | Current |
Ownership and Shareholding of Hiveloop Technology Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Hiveloop Technology Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 16 Sep 2021 | Others | ₹40 Cr | Open |
| 10 Aug 2020 | Others | ₹25 Cr | Open |
| 25 Feb 2020 | Others | ₹25 Cr | Open |
| 09 May 2019 | Tata Capital Financial Services Limited | ₹40 Cr | Open |
| 08 Jan 2025 | Others | ₹17 Cr | Satisfied |
Total charge records: 23 View all charges
Deals & Funding of Hiveloop Technology Private Limited
Hiveloop Technology Private Limited has 30 deals on record (11 funding rounds, 9 rights issues, 9 debt financings), with disclosed funding of ₹4,387.19 Cr; the latest was in July 2026.
Deals on record (5 of 30)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2026 | Funding round | ₹1,537.76 Cr | Investors: Others Undisclosed Investors |
| Jul 2024 | Debt financing | ₹60.02 Cr | Investors: Lighthouse Canton, Stride Ventures |
| Apr 2024 | Debt financing | ₹100 Cr | Investors: Trifecta Capital, Stride Ventures |
| Feb 2024 | Rights issue | ₹132.58 Cr | Investors: Trustroot Internet Pte Limited |
| Nov 2021 | Debt financing | ₹50 Cr | Investors: VBG Realty LLP, Blacksoil Group, Corsa Ventures LLP |
Full deal history
All 30 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Hiveloop Technology Private Limited
Hiveloop Technology Private Limited has 32 court cases on record: 12 filed by Hiveloop Technology, 17 filed against it, 3 where it is another party. 11 cases are pending and 21 are disposed. Status as checked between 21 Sep 2026 and 04 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 18 | 11 | 5 |
| High courts | 14 | 6 | 6 |
Cases on record (5 of 32)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Interim or miscellaneous application | Filed against the company by Hello Verify India Private Limited | Pending |
| District court, BENGALURU, Karnataka | Criminal complaint | Filed by the company against Integrity Verification Services Private Limited | Pending |
| Calcutta High Court | Civil suit | Filed against the company by Biswanath Hosiery Mills Limited | Pending |
| High Court of Karnataka | Interim or miscellaneous application | Filed by the company against Clomoso Technologies Private Limited | Disposed |
| High Court of Delhi | Court case (FAO (COMM)) | Filed against the company by TTK Prestige Limited | Disposed |
Full case history
All 32 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays by Hiveloop Technology Private Limited
Hiveloop Technology Private Limited has 12 MSME Form 1 returns on record between 2019 and 2024, listing 213 overdue payments to 46 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 46)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Bluejay Worktech Private Limited | •••• | •••• | •••• |
| Baldor Technologies Private Limited | •••• | •••• | •••• |
| Stackbox Services Private Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Avon Solutions & Logistics Private Limited | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 12 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Hiveloop Technology Private Limited
Hiveloop Technology operates multiple associated brands including DP Mart, Udaan Express, and WholeSher. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Online platform selling electronics, groceries, and household items to consumers. | dpmart.in | |
| Provides a web-based platform for door-to-door delivery services. | udaanexpress.com | |
| An online retail platform offering products in various categories. | wholesher.in | |
| Online marketplace offering multi-category products | udaan.com | |
| Platform offering business loan solutions | hiveloopcapital.com |
Employees and EPFO Compliance at Hiveloop Technology Private Limited
Hiveloop Technology Private Limited has a workforce of 1,124 employees as of Nov 18, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Hiveloop Technology Private Limited
Hiveloop Technology has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Hiveloop Capital Private Limited | U67100KA2016PTC098355 | Locked |
Showing major subsidiaries. Total: 1.
News related to Hiveloop Technology Private Limited
Recent Activity on Hiveloop Technology Private Limited
Hiveloop Technology Private Limited has 12 board changes on record since 2019: 3 appointments and 9 cessations. The latest: Bannari Jagathish was appointed as Whole-Time Director on 05 Aug 2025.
50 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Hiveloop Technology Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Hiveloop Technology Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Hiveloop Technology Private Limited
Hiveloop Technology has 28 GST registrations: 28 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AADCH8879C1Z5 | Karnataka | Active | 01 Jul 2017 |
| 29AADCH8879C1CG | Karnataka | Active | 07 Oct 2020 |
| 29AADCH8879C2Z4 | Karnataka | Active | 14 Feb 2024 |
| 18AADCH8879C1Z8 | Assam | Active | 30 May 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Hiveloop Technology Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Hiveloop Technology Private Limited
Hiveloop Technology is an active private limited company based in Bangalore South, Karnataka, India. The company works in general e-commerce platforms, within the e-commerce industry. It was incorporated on 03 June 2016 (10+ years old) and is registered under CIN U72900KA2016PTC093868.
Hiveloop Technology reported revenue of ₹345.72 Cr for FY 2024 (down 29% YoY).
Hiveloop Technology has 3 current directors:
- Bannari Jagathish - Whole-Time Director
- Krishna Menon Vishnu Menon - Director
- Ankit Gupta - Director
Hiveloop Technology reported a net loss of ₹657.82 Cr (net margin -190.3%) and EBITDA of -₹621.95 Cr (EBITDA margin -179.9%) for FY 2024, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Hiveloop Technology is -11% over three years and 71% over five years. In the latest year (FY 2024) revenue fell 29%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Hiveloop Technology is 29AADCH8879C1Z5, registered in Karnataka. The company has 28 GST registrations in all, of which 28 are active. Other active GSTINs include 29AADCH8879C1CG (Karnataka), 29AADCH8879C2Z4 (Karnataka), 18AADCH8879C1Z8 (Assam).
The CIN (Corporate Identification Number) of Hiveloop Technology is U72900KA2016PTC093868. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Hiveloop Technology has 32 court cases on record: 12 filed by the company and 17 filed against it. 11 are pending. Most are in the district courts.
Hiveloop Technology was incorporated on 03 June 2016, making it 10+ years old. It is registered with the Registrar of Companies, Bangalore.
Hiveloop Technology has 30 deals on record (11 funding rounds, 9 rights issues, 9 debt financings), with disclosed funding of ₹4,387.19 Cr; the latest was in July 2026.
Bannari Jagathish was appointed as Whole-Time Director on 05 Aug 2025. Ankit Gupta was appointed as Director on 30 Sep 2024. Lakshmi Rajagopalan ceased to be Additional Director on 07 Sep 2023. Hiveloop Technology has 12 board changes on record in total.