B2B e-commerce platform Udaan raises US $ 75 million in funding

The CEO and co-founder of B2B e-commerce major Udaan, Vaibhav Gupta, announced that the company has raised US $ 75 million in a Series G equity fundraising round. The major investors in Udaan, Lightspeed and M&G Prudential, spearheaded the fundraising. In addition, Gupta stated during the town hall that the company hopes to raise an additional US $ 25 million in the upcoming quarter. Investors such as Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital contributed US $ 34.51 million (Rs 300 crore) to Udaan’s debt in October. Under the leadership of M&G Prudential, the company raised US $ 340 million in 2023. The funding coincides with the Bengaluru-based company’s efforts to improve operations and fortify its balance sheet as it concentrates on profitability.