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Udaan closes Series G round at $114 Mn

EntrackrEntrackr · 1m ago
Udaan closes Series G round at $114 Mn
Medial

Udaan closes Series G round at $114 Mn: B2B e-commerce platform Udaan has announced the closure of its Series G round at $114 million, led by M&G Investments and Lightspeed, with participation from other existing and new investors. In February, the Bengaluru-based company raised $75 million as the first tranche of the Series G round at a flat valuation. According to Entrackr’s estimate, Udaan was valued at around $1.8 billion in the previous round, when it raised $340 million led by M&G Plc, with participation from Lightspeed and others. The fresh capital will be deployed to strengthen Udaan’s category and customer footprint, with focus on fast-moving consumer goods (FMCG) category and hotel, restaurant, and catering (HoReCa) customer segment, the company said in a press release. Udaan will also accelerate its private label brands initiatives in the staples category. 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% every year for the last 3 years and are on track to achieve full group EBITDA profitability in the next 18 months,” said Vaibhav Gupta, co-founder and CEO, Udaan. Udaan claims to have clocked more than 60% year-on-year (Y-o-Y) growth in CY 2024, alongside a contribution margin improvement of over 300 basis points. Along with this margin growth and operating leverage at scale, Udaan also reduced its fixed costs by 20%, resulting in a 40% reduction in EBITDA burn in CY 2024 and an additional 20% reduction year-to-date in CY 2025. While Udaan has yet to disclose its FY25 numbers, its gross revenue (GMV) grew only 1.7% to Rs 5,706.6 crore in FY24, compared to Rs 5,609.3 crore in FY23. However, it managed to control its losses by 19.4% to Rs 1,674.1 crore in the same period.

QSR brand Pizza Wings raises $2.8 Mn to expand across India

EntrackrEntrackr · 3m ago
QSR brand Pizza Wings raises $2.8 Mn to expand across India
Medial

Snippets QSR brand Pizza Wings raises $2.8 Mn to expand across India. Quick-service restaurant (QSR) brand Pizza Wings has secured $2.8 million in a fresh funding round from marquee investors, including Gruhas—the investment arm of Nikhil Kamath and Abhijeet Pai, Udaan co-founder Sujeet Kumar, and other strategic investors. The fresh funds will be used for expansion plans across Northern and North-Eastern India and to lay the foundation for long-term growth, Pizza Wings said in a press release. Pizza Wings is a homegrown QSR brand that combines international quality standards with Indian taste preferences. The company maintains strict quality control through cold fermentation processes, FSSAI-compliant procedures, and certified ingredients. Their menu features customizable options that cater to diverse regional tastes, developed by an experienced team of chefs. Co-founded in 2014 by Aditya Dhanda, Rajpal Sangwan, and Vikas Nain, Pizza Wings aims to add 50 new stores, scaling its footprint to 100 outlets by the end of 2025, further strengthening its presence in emerging urban centers. To support its growth, the brand is also reinforcing its corporate structure with strategic hires across finance, logistics, and marketing. Pizza Wings states that it continues to drive innovation with its proprietary rider and store management applications, enabling greater operational efficiency and reducing reliance on third-party aggregators. By fostering direct customer relationships, the brand is strengthening its market presence, amassing more than 500,000 app downloads and leading in sales in multiple cities.

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