Udaan raises $75 million, valuation flat at $1.8 billion

MUMBAI:

B2B e-commerce

startup Udaan has raised a fresh $75 million in funding led by existing investor M&G at a flat valuation of $1.8 billion, co-founder & CEO Vaibhav Gupta told employees in a townhall on Monday, sources said. The company is also in advanced discussions to raise another $25 million from investors. The funding, if finalised, is expected to get closed by the next quarter, sources said. Udaan declined to comment.
The company plans to deploy a portion of the fresh funds to strengthen its supply chain capabilities and vendor partnerships. Udaan had last raised $340 million from investors in Dec 2023 at a lower valuation of $1.8 billion by largely converting debt notes into equity.