Udaan Raises USD 75 Mn in Series G Round The funds will be utilised to enhance Udaan's customer experience, deepen market penetration, and strengthen strategic vendor partnerships.
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B2B e-commerce firm Udaan has announced the raising of USD 75 million in its Series G funding round, with another USD 25 million expected in the upcoming quarter, according to a town hall announcement by co-founder and CEO Vaibhav Gupta.
This round, which values the Bengaluru-based company at a flat USD 1.8 billion, was led by M&G Plc, a global investment manager based in London, with participation from existing investors like Lightspeed Venture Partners.
The funds will be utilised to enhance Udaan's customer experience, deepen market penetration, and strengthen strategic vendor partnerships.
Additionally, the company aims to bolster its long-term capabilities in supply chain and credit.
Udaan had previously raised INR 300 crore in debt financing in October 2024 from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital, which was earmarked for geographic expansion and profitability.
To date, Udaan has raised around USD 1.9 billion in equity and debt funding. Prior to this, the company secured USD 340 million in its Series E round led by M&G Plc, Lightspeed, and DST Global.
A significant milestone in its growth was achieved last month when Udaan received approval from the National Company Law Tribunal (NCLT) to merge its various business entities under the name Hiveloop Ecommerce Pvt Ltd, marking a step toward becoming a publicly listed entity.
Founded in 2016, Udaan collaborates with over 25,000 sellers and 30 lakh retailers across a wide range of categories, including medicines, electronics, FMCG goods, and lifestyle products.
The company operates in over 900 cities across India. In FY24, Udaan reported a slight revenue increase to INR 5,707 crore, following a sharp decline in the previous year.
