The fresh capital will be utilised to strengthen Udaan’s presence in the fast-moving consumer goods (FMCG) sector and the hotel, restaurant and catering (Horeca) segment
Notifying the closure of the series G funding round, Udaan, a business-to-business (B2B) ecommerce platform, has raised USD 114 million, led by M&G Investments and Lightspeed and with participation from other existing investors.
The fresh capital will be utilised to strengthen Udaan’s presence in the fast-moving consumer goods (FMCG sector and the hotel, restaurant and catering (Horeca) segment. As per the official statement, the company is also aiming to accelerate its private label initiatives in the staples category.
“Over the last three years, we have transformed the business by building cost as a capability and a competitive advantage. We have reduced our earnings before interest, tax, depreciation and amortisation (EBITDA) burn by 40 per cent every year for the last three years and we are on track to achieve full group EBITDA profitability in the next 18 months,” highlighted Vaibhav Gupta, Co-founder and Chief Executive Officer (CEO), Udaan.
Sharing a post on X, the company stated that the funds will also bolster its balance sheet, giving financial flexibility as it moves towards a potential public listing. Gupta added that the completion of the series G round enables the company to continue investing in its consumer-tech platform, sales-tech capabilities and deepening its customer value proposition.
