Bengaluru-based startup unicorn B2B commerce platform Udaan, has raised $280 million in fresh funding from existing investors, including Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital and Tencent, alongside new investors Octahedron Capital and Moonstone Capital. Udaan will utilise the funds to capitalise on growth in the B2B e-commerce market, driven by increased digital adoption by small and medium businesses due to the pandemic.
Udaan will also invest in expanding its selection of products, growing its SME financing capabilities and strengthening its supply chain infrastructure. Udaan, connects small and medium sized retailers with manufacturers and vendors, has a network of three million users and 25,000 sellers across 900 cities. It deals with goods in the lifestyle, electronics, home and kitchen, staples, fruit and vegetables, FMCG, pharma, toys and general merchandise categories. The new capital will allow Udaan to take e-commerce across India.
