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Indian B2B firm Udaan secures $75m funding, valued at $1.8b
Bengaluru-based business-to-business (B2B) ecommerce firm Udaan has raised US$75 million in funding from existing investors Lightspeed Venture Partners and UK-based M&G Prudential.
Sources indicate there is a possibility of an additional $25 million in funding in the coming quarter.
This financing round occurs as Udaan aims to stabilize its operations amid a challenging market environment.
The funding was secured at a valuation of approximately US$1.8 billion, consistent with its reduced valuation from 2023.
Lightspeed continues to hold about 40% of the company, while M&G Prudential, previously owning nearly 15%, is expected to increase its stake through this investment.
Recent Udaan developments
| Timeline |
|---|
28-Nov-2024 📈 Udaan’s overhaul shrinks losses but grounds revenues
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27-Dec-2023 📉 Ula, Udaan’s struggles cast shadow on B2B ecommerce’s future
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12-Oct-2023 📉 Udaan cuts losses by 33%, but revenue takes hit as it shrinks operations
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17-Nov-2022 📈 Udaan flies high with 67% rise in revenue but losses widen
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| 06-Oct-2021 💰 Udaan co-founder joins $15m round of East Ventures-backed ESOP management firm |
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