B2B e-commerce platform 'Udaan' wins $75 million in Series G
During a town hall today, Vaibhav Gupta, the CEO and Co-Founder of the business, said that Udaan, a B2B e-commerce platform, has raised $75 million in a Series G equity investment round at a flat value.
According to sources, the company's valuation in this round has been between $1.5 and $1.8 billion. In the last round, when it raised $340 million led by M&G Plc with participation from Lightspeed, among others, Udaan was valued at approximately $1.8 billion, according to Entrackr's assessment.
Sources claim that Udaan intends to utilize the money to improve customer satisfaction, broaden its market reach, fortify strategic vendor alliances, and improve its credit and supply chain infrastructure.
According to ET, which broke the news first, an extra $25 million could be forthcoming in the upcoming quarter.
The National Company Law Tribunal (NCLT) granted Udaan permission last month to combine its different business companies into Hiveloop Ecommerce Pvt Ltd. In its path to becoming a publicly traded business, this consolidation represents a critical turning point.
Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital provided Udaan with loan capital totaling Rs 300 crore (more than $35 million) in October 2024. To far, the business has raised almost $1.9 billion in debt and equity capital.
Compared to the Rs. 5,609.3 crore booked in FY23, Udaan's gross revenue (GMV) increased by just 1.7% to Rs. 5,706.6 crore in the fiscal year that ended in March 2024. It was able to reduce its losses, meanwhile, by 19.4% to Rs. 1,674.1 crore in the same time.
According to sources, the company's valuation in this round has been between $1.5 and $1.8 billion. In the last round, when it raised $340 million led by M&G Plc with participation from Lightspeed, among others, Udaan was valued at approximately $1.8 billion, according to Entrackr's assessment.
Sources claim that Udaan intends to utilize the money to improve customer satisfaction, broaden its market reach, fortify strategic vendor alliances, and improve its credit and supply chain infrastructure.
According to ET, which broke the news first, an extra $25 million could be forthcoming in the upcoming quarter.
The National Company Law Tribunal (NCLT) granted Udaan permission last month to combine its different business companies into Hiveloop Ecommerce Pvt Ltd. In its path to becoming a publicly traded business, this consolidation represents a critical turning point.
Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital provided Udaan with loan capital totaling Rs 300 crore (more than $35 million) in October 2024. To far, the business has raised almost $1.9 billion in debt and equity capital.
Compared to the Rs. 5,609.3 crore booked in FY23, Udaan's gross revenue (GMV) increased by just 1.7% to Rs. 5,706.6 crore in the fiscal year that ended in March 2024. It was able to reduce its losses, meanwhile, by 19.4% to Rs. 1,674.1 crore in the same time.
.jpg "Terrablu Climate Technologies : Transforming Carbon Neutrality with Affordable, Scalable Solutions")
