Udaan Raises $280MN From New And Existing Investors

Udaan Raises 0MN From New And Existing Investors

Indian business-to-business e-commerce startup Udaan has raised $280 million, it said Wednesday, as it seeks to
serve more mom-and-pop businesses that are buying products online in the wake of the COVID-19 pandemic.

 Udaan said existing investors including Chinese tech giant Tencent, Lightspeed Venture Partners, DST Global, GGV
Capital and Altimeter Capital participated in the fundraising, along with new investors – Octahedron Capital and
Moonstone Capital.

 The Bengaluru-based firm, founded in 2016, is now valued at more than $3 billion, a person familiar with the matter
said.

 A representative for Udaan declined to comment on its valuation.

 “COVID-19 has accelerated the already fast digital-led evolution of highly fragmented and unorganized Indian
trade/ retail industry,” Udaan co-founder Amod Malviya said.

 Udaan, which offers everything from consumer goods to fruits and vegetables, has now raised $1.15 billion to date,
the company said.

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