Latest news with #AmodMalviya
Entrepreneur
07-06-2025
- Business
- Entrepreneur
Money Moves: Top Indian Startups That Raised Big This Week (May 31–June 06)
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Indian startup ecosystem continues to see a healthy flow of capital as investors bet on innovation across e-commerce, clean energy, fashion, fintech, and agri-tech. This week (May 31–June 06), several diverse ventures raised fresh rounds of funding, signaling investor confidence in scalable and future-facing business models. From battery-swapping infrastructure to furniture marketplaces and men's fashion, here's a snapshot of the week's most notable startup funding deals. Udaan Udaan was founded in 2016 by ex-Flipkart leaders Amod Malviya, Sujeet Kumar, and Vaibhav Gupta. Based in Bengaluru, the company operates as a B2B e-commerce platform connecting small and medium businesses with suppliers and customers across categories like electronics, fashion, and food. Udaan facilitates easy product discovery, secure payment processing, and logistics support to ensure timely delivery and streamlined business operations. Funding Amount: USD 114 Million Investors: M&G Investments, Lightspeed Venture Partners Snitch Snitch was launched in 2019 by Siddharth Dungarwal and started as a B2B apparel brand before pivoting to a direct-to-consumer (D2C) model in 2020. Headquartered in Bengaluru, Snitch offers trendy men's fashion through its website, mobile app, and brick-and-mortar stores. Its clothing line caters to modern urban men, with a focus on affordability, style, and frequent design drops to stay on-trend. Funding Amount: USD 40 Million Investors: 360 ONE Asset, IvyCap Ventures, SWC Global, Ravi Modi Family Office Battery Smart Founded in 2019 by Pulkit Khurana and Siddharth Sikka, Battery Smart is based in Gurugram and aims to transform EV adoption through its battery swapping network. The startup targets electric two- and three-wheelers, offering a quick-swap model that allows users to replace discharged batteries with fully charged ones within minutes, eliminating wait times and improving EV efficiency. Funding Amount: USD 29 Million Investors: Rising Tide Energy, responsAbility, Ecosystem Integrity Fund, LeapFrog Investments Stable Money Stable Money was established in 2022 by Saurabh Jain and Harish Reddy in Bengaluru. Initially offering digital fixed deposits for risk-averse investors, it has now expanded to include short-duration corporate bonds (2–6 months), mutual funds, and secured credit cards. Its platform appeals to first-time wealth-tech users with benefits like same-day liquidity and lifetime-free demat accounts. Funding Amount: USD 20 Million Investors: Fundamentum Partnership, Aditya Birla Ventures, Z47, RTP Global, Lightspeed Samunnati Chennai-based Samunnati was founded in 2014 by Anil Kumar SG. It focuses on financial inclusion in the agriculture sector, offering loans, advisory services, and non-financial solutions to smallholder farmers, agri-enterprises, and those within the agri value chain. The startup aims to empower rural India by addressing financing gaps in the agri-ecosystem. Funding Amount: USD 6 Million Pepperfry Established in January 2012 by Ambareesh Murty and Ashish Shah, Pepperfry has grown into a leading online and offline furniture marketplace. Headquartered in Mumbai, it provides a wide array of home furniture and décor solutions, including sofas, beds, lighting, and carpets. With a strong omnichannel presence, the brand caters to modern Indian households seeking stylish, functional furnishings. Funding Amount: USD 5 Million Investors: General Electric Pension Trust, Norwest Venture Partners, Panthera Growth Partners Diverse sectors such as e-commerce, fashion, EV infrastructure, and agriculture witnessed robust funding this week, reaffirming investor optimism in India's evolving startup landscape.
Time of India
02-06-2025
- Business
- Time of India
Udaan raises $114 million in flat round at $1.8 billion valuation
Representative image BENGALURU: B2B ecommerce platform Udaan has raised $114 million in fresh equity capital as part of its Series G funding round, led by M&G Investments and Lightspeed. The round also saw participation from existing and new investors. The Bengaluru-based company said the funds will be used to deepen its category presence, particularly in FMCG and staples, and expand further into underserved markets. Udaan has secured the latest funding at a valuation of about $1.8 billion, people familiar with the matter told TOI. This makes the funding a flat round, which is when a company's valuation remains the same or nearly the same as the previous funding round. The company had previously raised $340 million in 2023, led by UK-based M&G Prudential, at the same valuation, marking a notable decline from its peak valuation of $3.2 billion in 2021. Founded by former Flipkart executives Vaibhav Gupta, Amod Malviya, and Sujeet Kumar, Udaan has been restructuring its operations since 2022, focusing on profitability amid a more cautious funding environment. The company has reduced its operating scale to manage costs and streamline business priorities. Malviya and Kumar no longer oversee day-to-day operations, with Gupta currently serving as CEO. The latest financing, Udaan said, strengthens its balance sheet as it moves closer to a potential public market listing. This round follows a broader restructuring of the business over the last three years, with the company claiming a 40% annual reduction in Ebitda burn over the same period. Founded in 2016, Udaan operates across verticals including fast-moving consumer goods, pharma, staples, and fresh produce, and claims to hold around 70% of India's eB2B market share. The company said it is pursuing a cluster-led operating model to drive 'profitable growth at scale,' with emphasis on technology-led distribution and private label expansion in staples. The company said it posted over 60% year-on-year revenue growth in calendar year 2024. Contribution margins improved by more than 300 basis points during the year, with an additional 100 basis point gain reported year-to-date in 2025. Fixed costs, the company said, were cut by 20% last year, contributing to overall margin improvements. 'This funding marks a key milestone as we continue our journey towards public markets,' said Vaibhav Gupta, co-founder and CEO of Udaan. 'Our hybrid model combining a digital platform with tech-led sales is proving effective, and we are on track to achieve group-level Ebitda profitability within the next 18 months.' The fresh capital will also be deployed to enhance Udaan's technology stack, including customer engagement tools and sales-tech capabilities. The company currently serves a large network of small businesses, retailers, and suppliers across India, and also offers working capital solutions through its financial services arm, UdaanCapital. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
