Microsoft bets on e-commerce firm Udaan with play in convertible note round

Top tech firm joins host of other global investors in the Bengaluru-based B2B platform; move could set the stage for Udaan to go public in 18 months and boost its valuation then

Microsoft, one of the world’s biggest technology companies, has joined the convertible note funding round of Udaan, which was launched in October 2021 and has now reached $275 million via convertible note and debt. Microsoft has joined new players M&G Prudential, Kaiser Permanente, Nomura, TOR, Arena Investors, Samena Capital and Ishana Capital, according to an internal company letter.

The Bengaluru-based business-to-business e-commerce platform had raised $250 million via convertible note and debt. The new capital is an addition of $25 million to the funding round. The move is expected to set the stage for Udaan to go public in 18 months