Udaan closes Series G round at $114 Mn

Udaan, the Indian B2B marketplace, has successfully closed its Series G funding round, raising $114 million. The round was led by London-based global investment manager M&G Plc and Lightspeed Venture Partners. This fresh capital infusion is a strategic move as Udaan progresses towards its planned public market debut. The funds will be primarily allocated to strengthening Udaan's category and customer footprint, expanding its presence in the FMCG and HoReCa segments, accelerating its private-label initiatives, and fortifying its balance sheet in preparation for an Initial Public Offering (IPO). This funding underscores investor confidence in Udaan's long-term growth strategy.