Udaan Secures $340 Million Funding Round Led by M&G Prudential & others

Bengaluru’s based B2B e-commerce unicorn Udaan has raised $340 million in its Series E funding round led by M&G Prudential. Investors from Lightspeed Venture and DST Global also participated in it. However, the company has not yet disclosed the post-money valuation and the fresh equity infusion in the statement.

Udaan was founded by Vaibhav Gupta, Sujeet Kumar, and Amod Malviya in the year 2016. Its user-friendly platform has empowered millions of retailers, wholesalers, and manufacturers across India, fostering efficiency and transparency in their transactions.

The significant funding injection is expected to further accelerate Udaan’s growth trajectory, enabling it to reach more businesses and deepen its impact on the B2B commerce landscape.

“Series E round strengthens our balance sheet and fully funds our business plan. It enables our continued journey of growth and profitability, positioning us well to be public-market-ready in the next 12-18 months. 

~ Vaibhav Gupta, CEO of Udaan

Till now this company has raised a total funding of $1.8 billion from investors like Lightspeed, Microsoft, Tencent, and others. In FY23, the operating revenue of this e-commerce unicorn has decreased by 43% from Rs 9897.3 crore to Rs 5609 crore.

Udaan’s successful fundraising of $340 million, led by M&G Prudential and other investors, underscores its position as a formidable force in the B2B e-commerce space. This substantial investment not only amplifies Udaan’s capabilities but also propels its mission to redefine business interactions and commerce in India.

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