India’s Udaan Scores $340 Million In New Funding

Dec 14, 2023•about 2 years ago

Amount Raised

$340 Million

BengaluruInformation Technology

Description

The investment arm of the UK retail bank M&G has led a funding of $340 million into Udaan, a business-to-business e-commerce startup, in one of the largest financing rounds secured by an Indian startup in 2023.

Company Information

Company

Udaan

Location

Bengaluru, Karnataka, India

About

The startup has raised $200 million via convertible note and $50 million as debt, its chief financial officer Aditya Pande told employees in an internal email, seen by TechCrunch. The startup today serves more than 3 million retailers and small and medium-sized businesses and it has signed up thousands of brands, including Coca-Cola, PepsiCo, Boat Lifestyle, Micromax, HP, LG, ITC, HUL and P&G. Udaan, co-founded by three former Flipkart executives, is solving this problem by connecting small retailers with wholesalers and traders.

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India’s Udaan Scores $340 Million In New Funding

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