News on Medial

Udaan appoints Nillambaran Ganenthiran to boost financial revival and strategic direction

Startup News FYI · 1y

Former Instacart executive Nillambaran Ganenthiran has joined Udaan's board of directors, the B2B e-commerce company's parent company Trustroot Internet confirmed. Ganenthiran, known for investing in quick commerce startup Zepto, took up his position on August 17. His presence is expected to represent Lightspeed, a principal shareholder in Udaan. Udaan is reportedly in talks for an internal funding round of $200-250 million, though concerns about valuation reduction persist due to economic challenges. Despite financial challenges, Udaan has focused on cost-saving measures and streamlining operations to navigate the market landscape.