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Announced

B2B unicorn Udaan raises $373m, at a valuation of $2.3bn.

Financials

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Transaction Value£295m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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Acquisition

Friendly

Pending

India

Venture Capital

E-commerce

Private

online marketplace

Private Equity

Single Bidder

Synopsis

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Udaan, the fastest Indian startup to achieve the coveted unicorn status, raised $373m from new and existing investors in an ongoing Series D round. The business-to-business (B2B) online marketplace has raised funds from Altimeter Capital, GGV Capital, and Hillhouse Capital, besides existing investors DST Global and Lightspeed Venture Partners. The latest fund infusion more than doubles Udaan’s valuation to $2.3bn. “The capital is being raised will be used to build the supply chain network and scale up the non-banking finance business,” Udaan said.

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