Udaan Secures Significant Funding in Series G Round

Online B2B platform udaan secured USD 75 million in Series G funding, led by M&G Plc. The company plans to use the funds to enhance customer experience and market reach. Udaan is preparing for a potential IPO in 2026, following a recent business merger approval by NCLT.

Online business-to-business platform udaan announced the successful closure of its Series G funding round, raising USD 75 million led by M&G Plc.

Udaan Co-Founder and CEO Vaibhav Gupta informed employees about the closure and the potential for an additional USD 25 million equity round in the upcoming quarter.

This funding round, supported by existing investors like Lightspeed Venture Partners, follows a substantial USD 340 million raised in December 2023. The capital will be used to enhance customer experience, expand market reach, and strengthen long-term supply chain and credit capabilities.

The National Company Law Tribunal recently approved udaan's merger of its business entities into Hiveloop Ecommerce Pvt Ltd, a move that bolsters its operational model ahead of a planned IPO in 2026.

Udaan reported a 65% revenue growth and a 70% increase in daily transacting buyers. Founded in 2016, udaan focuses on B2B trade, operating in categories like FMCG, staples, and pharma, and holds a significant market share in India.

(With inputs from agencies.)