Udaan raises $250 mn via convertible note and debt, plans IPO in 18 months

Udaan achieved a valuation of $3.1 bn during its last round of funding of $280 mn in January 2021 from existing and new investors

Udaan, India’s largest business-to-business e-commerce platform, has raised $250 million via convertible note and debt.

The Bengaluru-based firm mopped up $200 million via convertible note, which is a short-term debt that converts into equity. The mo­ve is expec­ted to set the stage for Udaan to go pu­b­lic in 18 months and give a boost to its valuation at that time.

Udaan achieved a valuation of $3.1 billion during its last round of funding of $280 million in January 2021 from existing and new investors.

According to industry sources, valuation of the latest round of fundraise will be derived at a future date either