PE-VC Fund Investments
B2B e-commerce platform Udaan to raise $160-M
Bengaluru-based B2B (business-to-business) e-commerce platform Udaan is to raise USD 160 million in a financing round involving a mix of fresh equity, new debt, and debt-to-equity conversion. The transaction includes a USD 45 million commitment from a private credit fund.Udaan connects manufacturers, wholesalers, and brands directly with small retailers, kirana shops, and businesses. The company plans to use the new funds to bolster its balance sheet, simplify its capital structure, and improve its readiness for a future public listing.This financing follows recent reports of insolvency proceedings initiated by creditors against Udaan’s Singapore-based parent entity due to the default of USD 170 million in convertible notes that matured on June 30. However, these legal proceedings do not impact its India operations.
Between Nov 2016 and Jun 2025, Udaan had attracted about USD 2 B from BlackSoil Capital, Altimeter Capital, DST Global, Granite Asia, Lightspeed Ventures, Tencent, DST Global, Stride Ventures, Trifecta Capital, Samena Capital, M12, Nomura Holdings and others.
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