Startups

Indian B2B e-commerce startup udaan raises $280 million, valuation jumps to over $3 billion

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  • Indian B2B e-commerce platform udaan has raised $280 million in additional financing.
  • The startup’s valuation has soared to $3.1 billion, from its last reported valuation of $2.8 billion in 2019.
  • udaan claims to have over 3 million users across 900 cities and 25,000 sellers across the country.

Indian B2B e-commerce platform udaan has raised $280 million. The additional financing was led by the startup’s existing investors Lightspeed, DST Global, GGV Capital, Altimeter, and Tencent, while two new investors Octahedron Capital and Moonstone Capital too participated.

The latest round takes udaan’s overall funds raised to $1.15 billion. According to
reports, the startup’s valuation has soared to $3.1 billion, from its last reported valuation of $2.8 billion in 2019.

udaan works as a marketplace for products across lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, toys and general merchandise. Its clients are manufacturers and business owners like shopkeepers. The startup’s co-founder Amod Malviya said that COVID-19 accelerated the already fast digital-led evolution of India’s trade and retail industry, which has led to udaan’s growth.

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“udaan is at the forefront of this uniquely Indian eCommerce opportunity, emerging in the last 4 years as one of the largest eCommerce platforms in India, while taking an India-first mobile-first approach to e-commerce. This financing enables us to further our journey of taking eCommerce to the depth and breadth of the country, with udaan’s unique low-cost model for core middle India,” said Malviya.

udaan claims to have over 3 million users across 900 cities and 25,000 sellers across the country. With the latest funding, the startup aims to expand its product categories, enhancing its technology platform and supply chain infrastructure, among other things.

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