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Economic Times
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udaan raises nearly Rs 300 crore debt from funds including Lighthouse Canton, Stride Ventures, InnoVen Capital and Trifecta Capita
- eB2B platform, udaan, has raised nearly Rs 300 crore in debt financing from top investors.
- The funds invested are from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital.
- This debt financing follows a $340 million Series E financing led by M&G Plc and participation from existing equity investors Lightspeed Venture Partners and DST Global.
- The latest funding will provide flexibility for udaan to continue leading the eB2B market, expand its geographical footprint, streamline supply chain processes and enhance GTM capabilities.
- Fund utilization will also be focused on optimizing operations, opening new Micro-fulfilment Centres, and investing in customer service.
- The funds, strategically invested in initiatives that drive sustainable growth, will accelerate buyer adoption, refine the business model and expand the geographical reach of udaan in the eB2B space.
- The company’s core focus will be on operational excellence and long-term profitability, driving productivity, and reducing costs.
- With this debt funding, udaan aims to strengthen its financial position and invest further in key strategic initiatives and achieve market position in the eB2B space.
- Ankit Agrawal, Executive Director, Lighthouse Canton stated that 'We are excited to partner with udaan as they continue to transform the B2B landscape in India and maintain category leadership.'
- Apoorva Sharma, Managing Partner, Stride Ventures, said, 'We are proud to partner with udaan as it scales operations and deepens market presence.'
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