Oct 28, 01:02 PM

Udaan Raises ₹300 Crore (over $35 million) in Debt from Lighthouse Canton for Expansion Following $340 Million Series E

Udaan, a B2B e-commerce platform, has successfully raised nearly ₹300 crore (approximately $35 million) in a debt funding round. The funding was sourced from notable investors including Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The capital will be utilized to enhance Udaan's go-to-market capabilities, streamline its supply chain, and establish new micro-fulfilment centers, thereby strengthening its position as a preferred partner for kirana stores and small businesses across India. This latest funding round follows a $340 million Series E funding led by M&G in December 2023 and comes after a significant restructuring that included the reduction of 1,000 jobs in 2022-23.

#Udaan #Lighthouse Canton #Stride Ventures #InnoVen Capital #Trifecta Capital #India

Written with ChatGPT (GPT-4o mini).

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