Microsoft joins Udaan's $225-M convertible debt round

Microsoft Corporation has joined B2B unicorn Udaan's $225 million round raised via convertible notes. Investors can flip their convertible notes into equity at a later stage, potentially before the IPO. Udaan has operations across categories including lifestyle, electronics, home & kitchen, staples, fruits and vegetables, FMCG, pharma, toys and general merchandise. It claims to have a network of over 3 million users in 900 cities by connecting them to over 25,000 sellers across the country.