B2B e-commerce giant udaan.com has raised $114 million in a fresh tranche of its Series G funding round, led by M&G Investments and Lightspeed Venture Partners. This follows a $75 million infusion in February, taking the total funding in this round to nearly $190 million and signaling strong investor confidence as the company edges closer to a potential IPO.
The Bengaluru-based firm plans to channel the funds into expanding its footprint in the FMCG and HoReCa (hotels, restaurants, catering) sectors, scaling its private-label staples, and strengthening its balance sheet. Udaan is reinforcing its margin-first strategy and financial discipline amid a cautious funding environment.
“This fundraise validates the margin-focused model we’ve developed over the past three years,” said Vaibhav Gupta, Co-founder and CEO. “We’re on track to achieve EBITDA profitability within the next 18 months.”
Founded in 2016 by former Flipkart executives, Udaan has emerged as India’s largest eB2B platform, servicing 12,000+ pin codes and offering products across staples, pharma, electronics, and more. The company now claims a 70% market share in the eB2B space.
Its cluster-led operating model has driven a 60% YoY revenue increase, a 300-basis-point margin boost, and a 20% reduction in fixed costs. Udaan is also ramping up UdaanCapital, its fintech arm supporting small retailers with working capital.