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Udaan valuation falls to $1.8 billion from $3.2 billion in down round
Economic Times
·
1y ago
Medial
B2B ecommerce company Udaan's valuation has dropped to around $1.8 billion in a down round, marking a significant decrease from its last valuation of $3.2 billion. The Bengaluru-based startup closed a $340 million financing round in December 2021, which included converting debt into equity. Udaan has been scaling down operations and reducing costs to reach profitability. The company has set operational targets and plans to reach profitability over the next two quarters. Udaan's parent company is considering an IPO within the next 12-18 months.
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UK’s Prudential may lead Udaan downround; below $2 billion value seen
Economic Times
·
1y ago
Medial
UK savings and investment firm M&G Prudential is reportedly in talks to lead a new round of equity funding for Indian B2B e-commerce startup, Udaan. The funding round is expected to result in a significant drop in Udaan's valuation, from $3.2 billion to under $2 billion. The fresh investment is anticipated to be in the range of $100-150 million, with M&G Prudential also converting its previous convertible notes into equity. Udaan has been scaling down operations and focusing on profitability amid a tighter liquidity market.
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Udaan Seeks Fresh Funding Of Up To $100 Mn
Inc42
·
9m ago
Medial
M&G Prudential has announced a new round of funding that will increase its stake in Udaan, a digital commerce platform. The funding will raise Udaan's valuation to $1.8 billion. In December 2023, Udaan raised $340 million in a Series E funding round led by M&G Prudential.
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Udaan FMCG biz head Vinay Shrivastava quits; fourth senior exit since Sept’23
Economic Times
·
1y ago
Medial
Vinay Shrivastava, the FMCG business head of Udaan, has resigned from his position after almost four years with the company. This is the fourth senior exit from Udaan since September 2023. Udaan has been restructuring its teams and business verticals to streamline costs, including merging its essentials and discretionary business divisions. The company recently raised $340 million in a funding round, but its valuation has fallen to around $1.8 billion.
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Udaan raises Rs 300 Cr debt from Lighthouse Canton and others
Entrackr
·
9m ago
Medial
B2B e-commerce platform Udaan has raised nearly Rs 300 crore (over $35 million) in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. This is the first debt round for the Bengaluru-based company in the past year. The new funds are intended to strengthen Udaan’s balance sheet and support its mission of empowering small businesses across India, the company said in a press release. In December 2023, the firm raised a $340 million Series E round led by M&G Plc, with participation from existing equity investors Lightspeed Venture Partners and DST Global. Although this round provided a financial boost to Udaan, its valuation dropped by 59.3%, settling at $1.3 billion, down from a peak valuation of $3.2 billion. According to Udaan, the company is on track to achieve profitability, reporting a 60% increase in revenue and more than a 50% rise in daily transacting buyers in 2024. Udaan also claimed a 30% reduction in absolute EBITDA burn in the current calendar year. The eight-year-old company operates a marketplace across several categories, including lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, pharma, toys, and general merchandise. It claims to have a network of over 3 million retailers across 900 cities. Udaan has been actively cutting costs over the past year, as evidenced by layoffs. In December 2023, the company let go of more than 100 employees. While Udaan has yet to disclose its FY24 numbers, its gross revenue (GMV) dropped by 43.1% to Rs 5,629 crore in FY23, down from Rs 9,900 crore in FY22. However, its losses also narrowed by 33.7%, from Rs 3,132 crore in FY22 to Rs 2,076 crore in FY23.
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Eruditus In Talks To Raise $150 Mn At $2.3 Bn Valuation
Inc42
·
11m ago
Medial
Eruditus is in discussions to secure $150 million in funding from TPG at a potential valuation of $2.3 billion. This valuation is lower than their previous valuation of $3.2 billion in August 2021. The funding is contingent on Eruditus meeting certain performance targets, and if not met, their market capitalization could decrease to $1.8 billion. Eruditus offers professional upskilling courses and recently entered the unicorn club after raising $650 million from various investors.
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Udaan raises $75 Mn at flat valuation
Entrackr
·
5m ago
Medial
Udaan raises $75 Mn at flat valuation B2B e-commerce platform Udaan has raised $75 million in a Series G equity funding round at a flat valuation, as announced by the company’s co-founder and CEO, Vaibhav Gupta, during a town hall today. Sources assert that the company has been valued in the range of $1.5 to $1.8 billion in this round. According to sources, Udaan plans to use the funds to uplift customer experience, expand market reach, strengthen strategic vendor partnerships, and beef up supply chain and credit infrastructure. Last month, Udaan received approval from the National Company Law Tribunal (NCLT) to merge its various business entities into a unified entity, Hiveloop Ecommerce Pvt Ltd. This consolidation marks a significant milestone in its journey toward becoming a publicly listed company. In October 2024, Udaan secured Rs 300 crore (over $35 million) in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The company has raised around $1.9 billion in debt and equity funding to date. Udaan’s gross revenue (GMV) grew only 1.7% to Rs 5,706.6 crore in the fiscal year ending March 2024 in contrast to Rs 5,609.3 crore booked in FY23. However, it managed to control its losses by 19.4% to Rs 1,674.1 crore in the same period.
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Daily Indian Funding Roundup – June 2, 2025
StartupTalky
·
2m ago
Medial
On June 2, 2025, several Indian startups across various sectors raised significant funding. B2B e-commerce platform Udaan secured $114 million, maintaining its $1.8 billion valuation, while D2C fashion brand Snitch attracted $40 million in a Series B round. Fintech company Spense raised $1.85 million, and Pepperfry obtained INR 43.3 crore to enhance growth. Agri-financing firm Samunnati garnered INR 50 crore for expanding its credit solutions, reflecting investor confidence in India's dynamic startup ecosystem.
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Udaan in talks to raise new round, valuation may drop significantly
Entrackr
·
1y ago
Medial
Udaan, a B2B e-commerce firm, is reportedly in discussions to raise $200-250 million in an internal funding round led by Lightspeed and other internal investors. This equity round follows a 30-month gap, during which Udaan mainly raised funds through debt and convertible notes. The Bengaluru-based company, previously valued at over $3 billion, may undergo a valuation haircut and could be valued between $1 billion to $1.5 billion. Udaan saw significant growth in revenue but also incurred substantial losses in FY22. Both Udaan and Lightspeed denied the details reported.
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Udaan closes Series G round at $114 Mn
Entrackr
·
2m ago
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.
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SoftBank, CPPIB to participate in Eruditus’ secondary funding round
Money Control
·
1y ago
Medial
SoftBank and Canada Pension Plan Investment Board (CPPIB) are reportedly considering an investment in the potential secondary funding round of upskilling and higher education platform Eruditus. The platform aims to raise around $120-150 million, with approximately half of it coming from secondary funding. This secondary round might happen at a valuation of about $2.5 billion, representing a 20% discount to Eruditus' previous valuation of $3.2 billion. SoftBank and CPPIB are existing investors in Eruditus, and a sovereign wealth fund has also expressed interest in participating in the funding round.
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