PE Fund Investments
B2B e-commerce unicorn Udaan closes Series G round At $114-M
Bengaluru-based B2B e-commerce major Udaan has closed its Series G funding round at USD 114 million (around INR 974 crore). The round was raised in two tranches. In the first tranche the startup received USD 75 million from existing investors M&G Prudential and Lightspeed Venture Partners and in the second round it raised USD 39 million from existing and new investors.The new funds will be used to strengthen the firm’s footprint, focused on the fast-moving consumer goods (FMCG) and hotel, restaurant, and catering (HoReCa) customer segments and to scale up its private label brands initiatives in the staples category. Additionally, the proceeds will help in fuelling its initial public offering (IPO) plans.Founded in 2016 by Gupta, Sujeet Kumar and Amod Malviya, Udaan enables supply chain and logistics operations focused on the business-to-business trade. It claims to enable daily delivery across over 1,000 cities and 12,500 pin codes through Udaan Express.
Between Nov 2016 and Feb 2025, Udaan had attracted about USD 2,040 M from Lightspeed Ventures, DST Global, Altimeter Capital, Footpath Ventures, GGV Capital, Hillhouse Capital, Tencent, BlackSoil Capital, InnoVen Capital, M12, Nomura Holdings, Samena Capital, EvolutionX Debt Capital, Lighthouse Canton, Stride Ventures, Trifecta Capital and others.For FY24, Udaan had reported about INR 285 Cr in Operating Income and about INR 658 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
