India’s B2B market Udaan raises $340 million

Udaan — a B2B market outdated skool by over 3 million outlets to source goods ranging from fruits and greens to apparel and electronics — has raised $340 million in funding to force extra growth.

The company said this week this is able to exhaust the funding to “enhance buyer skills and market penetration, forge strategic supplier partnerships, and enhance provide-chain and credit ranking capabilities.”

The Series E financing round modified into as soon as led by London-based mostly totally mostly global investment manager M&G Plc. Present investors Lightspeed and DST Global also participated.  This most up-to-date round brings Udaan’s total funding to $2 billion, in step with Crunchbase.

Udaan eyes an IPO

Vaibhav Gupta, Udaan’s CEO, says the sizzling funding will attend his company put collectively for an preliminary public providing of stock.

“The Series E round strengthens our steadiness sheet and fully funds our enterprise blueprint,” he said in an announcement. “It permits our persevered scurry of growth and profitability, positioning us effectively to be public-market ready in the next 12-18 months.”

Gupta co-founded Udaan in 2016 with Amod Malviya and Sujeeta Kumar. All three are outmoded executives of India-based mostly totally totally on-line market company Flipkart.

Redseer Method Consultants, an India-based mostly totally mostly analysis and consulting agency, has eminent that Udaan is mainly the most effectively-identified and most widespread B2B market platform by outlets having a seek for to aquire goods on-line from suppliers.

Redseer projects India’s total B2B ecommerce will attain total gross merchandise price of between $90 billion and $100 billion by 2030.

Other analysis foresees a ways extra growth, nonetheless. Bessemer Project Companions, shall we order, predicts that, by 2030, B2B ecommerce in India will attain $200 billion.

Paul Demery is a Digital Commerce 360 contributing editor preserving B2B digital commerce skills and approach. [email protected].


Be half of a complimentary subscription to Digital Commerce 360 B2B Recordsdata, printed 4x/week. It covers skills and enterprise tendencies in the rising B2B ecommerce replace. Contact Mark Brohan, vp of B2B and Market Compare Pattern, at [email protected] and practice him on Twitter @markbrohan.


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