Overview

• Udaan closed its Series G round at $114 million, splitting the raise into $75 million from existing backers M&G Prudential and Lightspeed Venture Partners and $39 million from a mix of new and current investors.
• The company will allocate funds to broaden its fast-moving consumer goods footprint and deepen its reach in the hotel, restaurant and catering segments.
• A portion of the proceeds will be used to scale up Udaan’s private label staples brands across its supply chain network.
• Udaan has cut its EBITDA burn by 40 percent each year for the past three years and is targeting full group EBITDA profitability within 18 months.
• Strengthened by the fresh funding and improved cost structure, Udaan is preparing its balance sheet and operations for an imminent public market debut.