Udaan raises $280 mn from existing, new investors, valuation crosses $3 bn

The additional financing exercise takes the overall funding raised by Udaan to date to $ 1.15 billion

After bouncing back from the Covid-19 pandemic slump, Udaan — the business-to-business (B2B) e-commerce start-up — has raised $280 million in additional financing from its existing and new investors. The existing investors of Udaan — Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital, and Tencent — participated in the funding exercise. Two new investors — Octahedron Capital and Moonstone Capital — also participated.

The investment takes the valuation of the Bengaluru-based company to over $3.1 billion, from $2.8 billion, when it raised $585 million from investors in October 2019, according to sources. The additional financing exercise takes the overall funding