Udaan raises $114M led by M&G, Lightspeed

Udaan, India's prominent B2B e-commerce platform, has successfully secured $114 million in its Series G funding round. The investment was primarily led by London-based global investment manager M&G Plc and Lightspeed Venture Partners. This substantial capital infusion is a strategic step as Udaan prepares for its anticipated public market debut. The funds will be primarily directed towards reinforcing the company's category and customer base, expanding its presence in the fast-moving consumer goods (FMCG) and hotels, restaurants, and catering (HoReCa) sectors, accelerating its private-label initiatives, and strengthening its balance sheet in anticipation of its Initial Public Offering (IPO).