B2B e-comm player Udaan raises $340-M from M&G Plc, Lightspeed, DST Global

Bengaluru-based business-to-business (B2B) e-commerce player Udaan has raised USD 340 million in a Series E financing round led by London-based global investment manager M&G Plc. Existing investors Lightspeed Ventures and DST Global also participated in the round. The funding is a combination of fresh equity investment and conversion of existing convertible notes into equity. Udaan aims to use the funding to strengthen customer experience and market penetration, forge strategic vendor partnerships, and reinforce supply-chain and credit capabilities.