Small-retailers focussed marketplace app Ula has raised seed funding of $10.5 million led by Sequoia India and Lightspeed India. Indonesia-based venture capital fund, SMDV, growth-stage fund Quona Capital, early stage investor Saison Capital and Silicon Valley-based Alter Global also participated in the round along with prominent angels including the founders of Indian B2B unicorn, Udaan as well as Rahul Mehta Managing Partner at DST Global. Launched in January 2020, Ula is an Indonesia-based multi-category wholesale e-commerce marketplace, which provides goods and working capital to small store owners, to increase their overall income. The startup which has teams in India, Singapore and Indonesia, will invest the funds raised from the current round into its technology platform, and for building out a talent team in India.