Udaan, a B2B e-commerce platform, has raised USD 75 million in a Series G equity funding round at a flat valuation. This report was relayed by the company’s Co-founder and CEO, Vaibhav Gupta at town hall today.

Also to note, sources assert that the company has been valued in the range of between USD 1.5 to USD 1.8 billion in this round. Furthermore, Udaan was valued at around USD 1.8 billion in the previous round when it raised USD 340 million led by M&G Plc. The funding round also saw participation from Lightspeed, among others.

As per the sources, Udaan intends to use the funds to uplift customer experience, expand market reach, beef up supply chain, strengthen strategic vendor partnerships, and build a robust credit infra. It has also come to notice that an additional USD 25 million may come in the coming quarter.

In the previous month, Udaan received approval from the National Company Law Tribunal (NCLT) to merge its various business entities into a unified entity. It is said to be named Hiveloop Ecommerce. This consolidation will be a significant milestone in its journey toward making itself a publicly listed company.

Udaan secured Rs 300 crore, which comes to about USD 35 million in debt funding back in October 2024, from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The company has raised around USD 1.9 billion in debt and equity funding to date.

In the fiscal year ending March 2024, Udaan’s gross revenue (GMV) grew only 1.7 percent to Rs 5,706.6 crore. This is in contrast to Rs 5,609.3 crore booked in FY23. Having said that, it has managed to control its losses by 19.4% to Rs 1,674.1 crore in the same period.