
At a flat valuation, Udaan raises $75 million
B2B e-commerce stage Udaan has raised $75 million in an Arrangement G value financing circular at a level valuation, as declared by the company's co-founder and CEO, Vaibhav Gupta, amid a town hall today.
Sources attest that the company has been esteemed within the run of $1.5 to $1.8 billion in this circular. Udaan was esteemed at around $1.8 billion within the past circular when it raised $340 million driven by M&G Plc with interest from Lightspeed, among others.
Agreeing to sources, Udaan plans to utilize the reserves to elevate client encounter, grow advertise reach, strengthen strategic vendor partnerships, and beef up supply chain and credit infra.
ET, which detailed the advancement to begin with, added that an extra $25 million may come within the coming quarter.
Final month, Udaan gotten endorsement from the National Company Law Tribunal (NCLT)to merge its different trade substances into a bound together substance, Hiveloop Ecommerce Pvt Ltd. This consolidation marks a noteworthy turning point in its travel toward getting to be a freely recorded company.
In October 2024, Udaan secured Rs 300 crore (over $35 million) in obligation financing from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The company has raised around $1.9 billion in debt and value financing to date.
Udaan's gross revenue (GMV) developed as it were 1.7% to Rs 5,706.6 crore within the monetary year ending March 2024 in differentiate to Rs 5,609.3 crore booked in FY23. In any case, it
overseen to control its misfortunes by 19.4% to Rs 1,674.1 crore in the same period.