Total amount raised
$2.1 Billion
Latest funding date
2/1/2025
Location
Udaan has successfully raised funding over 17 rounds, with the latest being a Series G round. The platform connects retailers, wholesalers, and manufacturers to solve core trade problems across various industries.
Keep reading to explore the intricacies of Udaan's fundraising journey and the investors backing this innovative platform.
What Is Udaan?
Udaan, headquartered in Bangalore, Karnataka, India, is a leading eB2B platform that connects retailers, wholesalers, and manufacturers to address core trade challenges across various industries. The company operates in the B2B, e-commerce, and retail sectors.
Founded to support small business owners, Udaan offers a wide range of high-quality products, trusted brands, and seamless delivery. The platform has grown significantly, employing between 1001-5000 people.
How Much Funding Has Udaan Raised?
- Series G
- Amount Raised: USD 114,000,000
- Date: February 2025
- Lead Investors: Lightspeed Venture Partners, M&G Plc
- Valuation at Round: USD 1.8 billion
- Motivation Behind the Round: To enhance customer experience, deepen market penetration, strengthen strategic vendor partnerships, and bolster long-term capabilities in supply chain and credit.
- Debt Financing
- Amount Raised: USD 35,700,000
- Date: October 2024
- Lead Investors: Lighthouse Canton, Stride Ventures, InnoVen Capital, Trifecta Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund geographic expansion through Udaan's 'micro-market strategy' and renew its focus on profitability.
- Series E
- Amount Raised: USD 340,000,000
- Date: December 2023
- Lead Investors: M&G Plc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for growth and operational enhancements.
- Convertible Note
- Amount Raised: USD 35,000,000
- Date: November 2022
- Lead Investors: EvolutionX Debt Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage financial liabilities and restructuring debt.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: November 2022
- Lead Investors: EvolutionX Debt Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for working capital and operational expenses.
- Convertible Note
- Amount Raised: INR 9,600,000,000
- Date: October 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for growth and operational enhancements.
- Debt Financing
- Amount Raised: USD 50,000,000
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for working capital and operational expenses.
- Convertible Note
- Amount Raised: USD 225,000,000
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for growth and operational enhancements.
- Debt Financing
- Amount Raised: INR 500,000,000
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for working capital and operational expenses.
- Debt Financing
- Amount Raised: INR 750,000,000
- Date: November 2021
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for working capital and operational expenses.
Udaan has raised a total of USD 1,114,700,000 with a current valuation of USD 1.8 billion.
Key Investors
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that invests in the enterprise, consumer, and health sectors. They are known for their early and growth-stage investments in technology and innovation-driven companies.
- Investment Focus Areas: Technology, consumer, health
- Notable Investments: Snapchat, GrubHub, Nest
- M&G Plc
- Details: M&G Plc is a UK-based global investment management company. They focus on long-term investments across various asset classes, including technology and infrastructure.
- Investment Focus Areas: Technology, infrastructure, financial services
- Notable Investments: Udaan
- Lighthouse Canton
- Details: Lighthouse Canton is an investment firm providing wealth and asset management services. They focus on private equity, venture capital, and real estate investments.
- Investment Focus Areas: Private equity, venture capital, real estate
- Notable Investments: High-growth companies across various sectors
- Stride Ventures
- Details: Stride Ventures is a venture debt firm that provides credit solutions to growth-stage companies. They specialize in venture debt for high-growth startups.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Specific notable investments not mentioned
- InnoVen Capital
- Details: InnoVen Capital is a venture debt firm that provides debt capital to high-growth companies. They focus on venture debt financing for startups in Asia.
- Investment Focus Areas: Startups, high-growth companies
- Notable Investments: Swiggy, Byju's, OYO
What's Next for Udaan?
Udaan stands at the cusp of significant opportunities, poised to enhance customer experience, deepen market penetration, and strengthen vendor partnerships. With a recent $75 million funding round and an additional $25 million expected, the company is well-positioned to leverage its technological platform to transform trade practices across various business categories, including lifestyle, electronics, and FMCG.
Future fundraising opportunities appear promising, with plans to go public next year potentially opening up more avenues for investment. The company's focus on geographic expansion and improving supply chain and credit offerings aligns with industry trends towards digital transformation and operational efficiency.
However, Udaan faces challenges such as competition from other B2B e-commerce platforms, regulatory hurdles, and managing logistics in a diverse market like India. Despite these obstacles, the company's strategic focus and strong financial backing suggest a robust path forward.
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