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Time of India
06-06-2025
- Business
- Time of India
ETtech Deals Digest: Startups raise $142.7 million this week, up 8.5% on-year
Live Events Startups in India raised $142.7 million in funding across 14 rounds between May 31 and June 6, up 8.5% over the same week last the same period last year, startups had raised $131.5 million across 64 rounds. Funding fell marginally over the last week, where $147.7 million was raised in 16 activity was high among late and early-stage startups, lagging in the seed Singapore-based wealth management platform raised $53 million in a fresh funding round, led by two UK-based family offices. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 (B2B) ecommerce platform Udaan closed a $114 million funding round led by existing investors M&G Prudential (UK) and Lightspeed Venture Partners. The round, executed at a flat valuation of $1.8 billion, includes the previously disclosed $75 million infusion from the two investors, which founder and CEO Vaibhav Gupta had announced during a townhall earlier this wealthtech startup, which provides digital fixed-return investment products, raised $20 million (Rs 173 crore) in a funding round led by Infosys cofounder Nandan Nilekani's Fundamentum digital lending platform Loantap announced raising $6.2 million in fresh equity funding led by July Ventures. Existing investors 3one4 Capital, Avaana Capital, Kae Capital and the Swapurna Family Office also participated in the financing startup GyanDhan has raised Rs 50 crore in a funding round from edtech firm Classplus and venture capital firm Pravega Ventures. The funds will be used for scaling operations, strengthening its consultant partnership network, expanding the team, and investing in furniture and home goods company Pepperfry raised Rs 43.3 crore from existing investors Norwest Venture Partners, Goldman Sachs, General Electric Pension Trust, Growth Equity Opportunity Fund, and Panthera Growth Partners, among a climate-tech-focussed asset financing and management platform, raised $3.5 million in a funding round led by the clean mobility-focused Micelio Technology Fund.
Fashion Network
03-06-2025
- Business
- Fashion Network
Udaan raises $114 million to strengthen FMCG offering
Business-to-business e-commerce platform Udaan has raised $114 million (approximately Rs 974 crore) in a fresh equity round, with M&G Investments and Lightspeed among the key investors. The capital will be used to expand operations across core product categories, with a strong emphasis on fast-moving consumer goods and the hotel, restaurant, and catering sector. The company also plans to accelerate its private label brands in staples and bolster its balance sheet ahead of a potential public listing, Indian Retailer Bureau reported. In a statement, Udaan said the fundraise will help to drive consistent growth with profitability at scale under its regional cluster-led operating model, ET Retail reported. The investment comes as Udaan reports significant operational gains, including a 20% reduction in fixed costs and a 40% decline in EBITDA (earnings before interest, tax, depreciation, and amortisation) burn in 2024. The company noted an additional 20% reduction in burn so far in 2025. Udaan currently connects retailers, suppliers, and brands across India through a tech-driven B2B platform focused on streamlining commerce and logistics, according to its website. 'Over the last 3 years, we have transformed the business by building cost as a capability and a competitive advantage," said Udaan's co-founder and CEO Vaibhav Gupta, Indian Retailer Bureau reported. "We have reduced our EBITDA burn by 40 per cent every year for the last three years and are on track to achieve full group EBITDA profitability in the next 18 months."
Entrepreneur
03-06-2025
- Business
- Entrepreneur
Udaan Raises USD 114 Mn in Series G Round Led by M&G and Lightspeed
The Bengaluru-based firm aims to deploy the fresh funds in expanding its presence in the FMCG and HoReCa (hotels, restaurants, and catering) sectors, boosting its private-label staples offerings, and strengthening its balance sheet to support its ongoing transformation. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. B2B ecommerce platform Udaan has raised USD 114 million in a fresh round of funding led by M&G Investments and Lightspeed Venture Partners, following the USD 75 million first tranche it secured in February. This marks a significant step in the company's Series G round, bringing it closer to its public market debut. The Bengaluru-based firm announced that the newly raised funds will be directed toward expanding its presence in the FMCG and HoReCa (hotels, restaurants, and catering) sectors, boosting its private-label staples offerings, and strengthening its balance sheet to support its ongoing transformation. The company is doubling down on financial discipline and a margin-focused approach, critical in today's tighter investment climate. "This fundraise is a vote of confidence in the disciplined, margin-focused model we've built over the past three years," said Vaibhav Gupta, Co-founder and CEO of Udaan. "We are on course to achieve full EBITDA profitability within the next 18 months." Udaan was founded in 2016 by former Flipkart executives Amod Malviya, Sujeet Kumar, and Vaibhav Gupta. In less than a decade, the company has grown to become India's largest eB2B platform, servicing over 12,000 pin codes and offering a wide product range—including staples, pharma, fruits and vegetables, and electronics. Udaan now claims an estimated 70% market share in the eB2B space. Udaan's pivot from a growth-at-any-cost model to disciplined execution has seen impressive results. It now operates under a cluster-led structure, empowering regional teams to drive localised efficiencies. This has helped the company report over 60% year-on-year revenue growth in 2024, a 300-basis-point increase in contribution margins, and a 20% reduction in fixed costs in early 2025. Apart from its core marketplace, Udaan is also expanding its fintech vertical, UdaanCapital, which provides vital working capital solutions to small retailers and suppliers. With nearly USD 2 billion raised to date, Udaan remains one of India's best-funded startups, and industry observers believe an IPO within 12 to 24 months is increasingly likely—contingent on continued performance in credit quality, logistics, and private-label profitability.
Hans India
03-06-2025
- Business
- Hans India
Udan secures $114 mn from M&G, Lightspeed
Udan secures $114 mn from M&G, Lightspeed eB2B platform Udanhas raised $114 million (about Rs 974 crore) in fresh equity capital in a funding round led by M&G Investments and Lightspeed. The funds will be used to expand udan's presence across categories and customers, particularly targeting the Fast-Moving Consumer Goods (FMCG) sector and the Hotel, Restaurant, and Catering (HoReCa) segment, according to a company statement. "Udanwill also accelerate its private label brands initiatives in the staples category. This capital raise will also fortify udan'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 per cent every year for the last 3 years and are on track to achieve full group EBITDA profitability in the next 18 months," Vaibhav Gupta, Co-founder and CEO, udaan, said. With a network of retailers, suppliers, and brands nationwide, Udanenables supply chain and logistics operations, driven by technology and focused on B2B trade.
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
