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B2B e-commerce platform Udaan has raised $75 million in a Series G funding round led by M&G Plc, with participation from Lightspeed Venture Partners, at a flat valuation of $1.8 billion. The company, which is in discussions to secure an additional $25 million in the next quarter, plans to utilize the funds to enhance its supply chain infrastructure, deepen market penetration, strengthen vendor partnerships, and improve customer experience. CEO Vaibhav Gupta announced the funding during a town hall meeting. Udaan is also preparing for a potential public listing in 2025. Founded in 2016, Udaan serves over 25,000 sellers and 3 million retailers across 900 cities in India. Despite challenges, including revenue declines in recent years, Udaan has shown signs of stabilization, reporting marginal revenue growth in FY24. The company has also undertaken cost-cutting measures, including workforce reductions, to improve unit economics.
