B2B e-commerce unicorn Udaan Datalabs in-composition icon is in conversations with M&G Prudential to raise $80-100 million in a fresh backing round.
This new round will also raise M&G’s stake in Udaan from around 15 now, once the round is closed, ET reported, citing sources. Inc42 has reached out to Udaan for commentary on the development. The story will be streamlined based on the response. 
The report further said that Lightspeed Venture Partners holds the loftiest stake in the company, while M&G Prudential joins second in the fray for loftiest power. 
Sources verified that the term distance is inked and the deal silhouettes are being finalized, adding that the backing will be at a flat valuation of$ 1.8 Bn 
 It's material to note that the company’s valuation dropped by nearly half to around $1.8 Bn in a down round, which was last marked at $3.2 Bn following a backing round in 2021. 
Udaan, innovated in 2016 by Vaibhav Gupta, Sujeet Kumar, and Amod Malviya, preliminary raised $ 340 million in its Series E backing round led by M&G Prudential, with participation from investors Lightspeed Venture mates and DST Global, in December 2023. 
The Bengaluru-rooted incipiency enables force chain and logistics operations concentrated on B2B trade. Udaan claims to enable diurnal delivery across over 1,000 metropolises and 12,500 leg canons through Udaan Express. 
This development comes at a time when assiduity peer Fair Market is also in plans to lade up a fresh backing of $150-200 Mn(about INR 1,250- 1,680 Cr), from its investors, including Tiger Global, Fundamental, and Evalene, who would fit maturity capital for the new round and are also believed to raise their stake in the company. 
It's to note that India's e-commerce request, which is projected to hit 400 billion by 2030, and according to Inc42'sThe State of Indian Ecommerce H1 2024’ report, Indian e-commerce startups cumulatively raised over 34 billion via 1,833 deals between 2014 and H1 2024.