Indian B2B e-commerce startup udaan raises $280 million, valuation jumps to over $3 billion
B2B e-commerceplatform udaanhas raised $280 million in additional financing.
- The startup’s valuation has soared to $3.1 billion, from its last reported valuation of $2.8 billion in 2019.
- udaan claims to have over 3 million users across 900 cities and 25,000 sellers across the country.
The latest round takes udaan’s overall funds raised to $1.15 billion. According to reports, the startup’s valuation has soared to $3.1 billion, from its last reported valuation of $2.8 billion in 2019.
udaan works as a marketplace for products across lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, toys and general merchandise. Its clients are manufacturers and business owners like shopkeepers. The startup’s co-founder Amod Malviya said that COVID-19 accelerated the already fast digital-led evolution of India’s trade and retail industry, which has led to udaan’s growth.
“udaan is at the forefront of this uniquely Indian
udaan claims to have over 3 million users across 900 cities and 25,000 sellers across the country. With the latest funding, the startup aims to expand its product categories, enhancing its technology platform and supply chain infrastructure, among other things.
boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year
Popular on BI
- Air Pollution Control Day: These are a few simple ways by which you can help the environment
- BYJU's Early Learn App, Disney onboards Olympic medalists Neeraj Chopra and PV Sindhu as its brand ambassadors
- Project Ironman: Leak sheds light on Motorola’s AR glasses with touchpad-bearing neckband and Snapdragon 8 Gen 1 chipset
- Android Auto to support touchscreen-based quick replies for message notifications soon
- Twitter suspended 34,000 accounts in October, while WhatsApp banned 2 million