PE Fund Investments
B2B e-commerce unicorn Udaan raises $75-M from existing investors; to raise $25-M more
Bengaluru-based business-to-business (B2B) ecommerce firm, Udaan has raised USD 75 million in fresh funding from UK-based M&G Prudential and Lightspeed, existing investors in the firm at a flat valuation of USD 1.8 Billion. The company is also expected to raise an additional USD 25 million in the upcoming quarter.Lightspeed remains the largest shareholder in Udaan with around 40% ownership, while M&G Prudential previously held close to 15%.Founded in 2016 by Amod Malviya, Sujeet Kumar and Vaibhav Gupta, Udaan empowers small businesses and B2B trade by leveraging technology and operates across categories including FMCG, Staples, Fruits & Vegetables and Pharma.
Between Nov 2016 and Oct 2024, Udaan had raised about USD 1,965 M from DST Global, Lightspeed Ventures, EvolutionX Debt Capital, Samena Capital, M12, Nomura Holdings, BlackSoil Capital, InnoVen Capital, Altimeter Capital, GGV Capital and Tencent.For FY24, Udaan had reported about INR 284 Cr in Operating Income and about INR 657 Cr in Net Loss.
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