Udaan Secures $114 Mn From M&G, Lightspeed

New Delhi: eB2B platform udaan has raised USD 114 million (about Rs 974 crore) in fresh equity capital in a funding round led by M&G Investments and Lightspeed.

The funds will be used to expand udaan’s presence across categories and customers, particularly targeting the Fast-Moving Consumer Goods (FMCG) sector and the Hotel, Restaurant, and Catering (HoReCa) segment. “This capital raise will also fortify udaan’s balance sheet, providing enhanced financial flexibility as the company advances toward its public market debut.

“Over the last 3 years, we have transformed the business by building cost as a capability and a competitive advantage. We have reduced our EBITDA burn by 40 per cent every year for the last 3 years,” Vaibhav Gupta, Co-founder and CEO, udaan, said. With a network of retailers, suppliers, and brands nationwide, udaan enables supply chain and logistics operations.