In the bustling heart of India’s tech revolution, a company has emerged that’s changing the face of commerce. Udaan, often dubbed the “B2B” giant”, has carved a niche for itself by bridging gaps in the business ecosystem and empowering millions of merchants and traders. Ever wondered how they raise their funding and reach a massive valuation?
Let’s take a closer look at their Valuation, Funding & Shareholders.
Udaan’s journey is as thrilling as it is inspiring. It is marked by staggering valuations, substantial funding rounds, and a diverse group of shareholders.
Udaan’s : Profile Overview
Udaan is a B2B e-commerce platform that brings traders, retailers, wholesalers and consumers together at one place. It supports small and medium businesses.
Udaan supports deals in a wide range of categories like FMCG goods, fruits, vegetables, pharmaceuticals, electronics, lifestyle, etc.
Udaan took its first step into the digital world in 2016. The brains behind this venture were three former Flipkart executives – Amod Malviya, Sujeet Kumar, and Vaibhav Gupta (CEO). Their vision was clear: to digitally transform the complex and unorganized B2B trade landscape in India. They envisioned a platform that could connect businesses seamlessly, regardless of their size or location.
Note: We have already explained their history in article of “Flipkart Mafia”. Click to get a detailed description.
At the Core Of Udaan:
Udaan is a digital marketplace designed to simplify the entire B2B trading process. It acts as a bridge between manufacturers, wholesalers, traders, and retailers, enabling them to buy and sell products with ease. What sets Udaan apart is its commitment to serving the underserved, particularly in India’s tier-2 and tier-3 cities.
Note: We have already discussed how Udaan makes money? For more information you can check that out too!
The first significant recognition came in 2018 when Udaan achieved Unicorn status. This term, reserved for startups valued at over $1 billion. Signified a remarkable achievement for the company.
Udaan’s recognition didn’t stop there. In 2020, it secured a valuation of a staggering $7.5 billion in series D funding round. This incredible leap was a testament to the platform’s rapid growth and its impact on India’s B2B landscape.
Udaan’s first breakthrough came in 2018 when it raised $225 million in a Series C funding round. This round, led by DST Global and Lightspeed Venture Partners, valued the company at a staggering $1 billion, making it a unicorn within just two years of its inception. It was not just about the valuation, it was about the recognition of the disruptive potential of Udaan’s business model.
Another recognition of Udaan’s Valuation:
Udaan’s recognition journey didn’t stop there. In 2020, it secured a valuation of a staggering $7.5 billion in its Series D funding round. This incredible leap was a testament to the platform’s rapid growth and its impact on India’s B2B landscape.
The growing confidence in the platform was palpable, marking a pivotal moment in its journey.
Udaan was successfully valued at $3.1 billion in 2021.
The funding rounds not only bolstered the company’s financial strength but also reinforced its reputation as a game changer in the B2B e-commerce sector.
Udaan’s Funding & Shareholders
Udaan’s ascent has been nothing short of meteoric. It gathered unicorn status within two years of inception, a testament to its rapid growth and transformative impact. Substantial funding rounds have followed, attracting investments from heavyweight venture capitalists who recognize its potential to revolutionize commerce.
Udaan reportedly raised a total of $1.6 billion in funding of 14 rounds. The latest funding was done on November 24, 2022.
|Date||Series round||Money Growth||Investors|
|2018||C||$225 million||DST Global and Lightspeed Venture Partners,|
|March 23, 2020||Venture Round||$30 million||Trustroot Internet|
|January 6, 2021||D||$280 million||Moonstone Capital, Octahedron Capital|
|September 25, 2021||Debt Financing||$6.7 million||BlackSoil|
|November 6, 2021||Debt Financing||$750 million||InnoVen Capital|
|November 18, 2021||Debt Financing||$500 million|
|January 5, 2022||Debt Financing||$50 million|
|January 2022||Convertible Note||$225 million|
|October 27, 2022||Convertible Note||Rs. 9.6 billion|
|November 24, 2022||Convertible Note||$35 million||Evolution X|
Udaan has risen like a phoenix, captivating the B2B e-commerce realm. Behind this meteoric ascent lies a diverse group of stakeholders whose unwavering support and vision have played a pivotal role in shaping Udaan’s journey. In this part of the article we’ll delve into the mosaic of Udaan’s shareholders and their integral role in the company’s triumph.
Some of the prominent Venture Capital Firms:
Lightspeed Venture Partners: Known for their early-stage investments in tech giants, Lightspeed was a lead investor in Udaan’s Series C funding round, marking the company’s unicorn status.
DST Global: This international investment firm led Udaan’s Series C funding round, signaling its belief in Udaan’s potential to revolutionize B2B commerce.
GGV Capital: With a strong presence in both China and the United States, GGV Capital joined as an investor during Udaan’s Series D funding round.
Altimeter Capital: Altimeter Capital’s involvement in Udaan’s Series D round underscored the company’s growing recognition on the global stage.
Udaan Future Aspect
Udaan is planning to expand their FMCG sector six fold reach to 10.000 small towns and villages. After witnessing a huge opportunity there. They’ll be making most of the opportunity for cold beverages in rural areas. One of its prominent shareholders Lightspeed Venture Partners are planning to double their business of the cold beverage segment on a year-on-year basis.
It’s not just a company, it’s a force of change, a catalyst for progress, and a symbol of what’s possible when innovation meets determination. Udaan promises to be an exciting journey for businesses across the nation.