B2B e-commerce startup Udaan raises $114mn
BENGALURU: B2B ecommerce platform Udaan raised $114 million, led by M&G Investments and Lightspeed. The Bengaluru-based company said the funds will be used to deepen its category presence, particularly in FMCG and staples.
Udaan secured the latest funding at a valuation of about $1.8 billion (unchanged), people familiar with the matter told TOI. The company previously raised $340 million in 2023, led by UK-based M&G Prudential, at the same valuation, marking a notable decline from its peak valuation of $3.2 billion in 2021. The company said it posted over 60% year-on-year revenue growth in 2024.
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