Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Business-to-business (B2B) e-commerce platform <keyword id="6357316" type="General" weightage="100" keywordseo="udaan" source="Orion">Udaan</keyword> has raised $120 million in convertible notes and debt, as it plans an initial public offering (IPO) in the next 12-18 months amid the <keyword id="6357455" type="General" weightage="20" keywordseo="funding" source="Orion">funding</keyword> winter. Udaan's chief financial officer <keyword id="2753906" type="General" weightage="50" keywordseo="aditya-pande" source="Orion">Aditya Pande</keyword> wrote in an email seen by IANS that with this round, the total funds raised by Udaan through convertible notes and debt in the last four quarters have crossed $350 million, making it one of the largest structured instrument fundraises in the country. "Despite the funding-related challenges being experienced by the larger start-up ecosystem, this fundraise reflects the confidence of investors in our business model and their endorsement of the journey to unit economics, driven by great progress in the evolution of our business model and cost efficiency, that we initiated last year," said Pande. He added that these steps have not only helped us achieve positive unit economics last quarter, but also improved efficiency in the system, with huge cost benefits, "which is key to building a sustainable business, and being public market-ready in 12-18 months". The Bengaluru-headquartered startup improved its unit economics by "1,000bps with equally strong improvements in both gross margins and operating cost," said Pande. "The journey of right business design and unit economics has translated into over 60 per cent reduction in the burn. Continued focus on customer-first thinking and initiatives on strengthening our value proposition for them have resulted in monthly buyer repeat rates increasing by more than 500 bps in the last 2 quarters," he added. Earlier this year, Udaan raised $250 million, $200 million in a convertible note and $50 million in debt. In the calendar year 2021, Udaan raised $500 million, taking its total raise to $1.4 billion to date. To cater to the growing demand, Udaan plans to scale its warehouse capacity to 50 million square feet across the country in the next seven-eight years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/jiomart-on-whatsapp-is-a-big-opportunity-for-paid-messaging-market-zuckerberg/articleshow/95114891.cms">JioMart on WhatsApp is a big opportunity for paid messaging market: Zuckerberg</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kkr-to-acquire-digital-services-transformation-company-ness-digital-engineering/articleshow/95119920.cms">KKR to acquire digital services transformation company Ness Digital Engineering</a>

Udaan raises $120 mn in funding winter, plans IPO in 12-18 months

<keyword id="16492024" type="General" weightage="100" keywordseo="Homegrown-EV-charging" source="Orion">Homegrown EV charging</keyword> and <keyword id="16492025" type="General" weightage="20" keywordseo="mobility-solutions-company" source="Orion">mobility solutions company</keyword> <keyword id="14455900" type="General" weightage="20" keywordseo="Magenta-Mobility" source="Orion">Magenta Mobility</keyword> has raised $40 million in its Series B <keyword id="12999336" type="General" weightage="40" keywordseo="funding" source="ETB2B" meta.aliasname="funding" meta.entityname="funding" meta.entityid="7040">funding</keyword> in a mix of equity and debt, the media reported. Backed by <keyword id="16492026" type="General" weightage="20" keywordseo="Microsofts-global-startup" source="Orion">Microsoft's global startup</keyword> programme, the company closed $20 million in equity funding led by two global marquee investors, reports DealStreetAsia. The company raised $20 million in debt in the same round. Magenta is aiming to expand its geographical presence in cities including Hyderabad, Chennai, Delhi and Chandigarh. The company has a fleet of 600 3-wheelers and 4-wheelers across the country and expects to have over 4,000 in fiscal 2023-24, the report said. Last year, the Mumbai-based charging solutions provider announced its collaboration with Amazon <keyword id="13362851" type="General" weightage="40" keywordseo="india" source="ETB2B" meta.aliasname="india" meta.entityname="india" meta.entityid="7017">India</keyword>. Through this partnership, Magenta Mobility works with Amazon India to induct a fleet of <keyword id="12991107" type="General" weightage="40" keywordseo="electric-vehicles" source="ETB2B" meta.aliasname="electric vehicles" meta.entityname="electric vehicles" meta.entityid="7048">electric vehicles</keyword> including two and four-wheeler electric vehicles for its delivery partners in Hyderabad. Magenta Mobility's current list of customers includes all the major e-commerce businesses such as Amazon, Flipkart, Bigbasket, Porter and Udaan. It has a relationship with the electric-vehicle manufacturers such as Tata Motors, Mahindra Electric, Omega Seiki and Euler Motors. Magenta is a Series A funded company backed by HPCL and investors such as JITO Angel Network, LetsVenture, and Indian-American philanthropist, Dr Kiran Patel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/renault-nissan-commits-5300-cr-to-tn-to-introduce-6-new-models-including-evs/articleshow/97867394.cms">Renault-Nissan commits ₹5,300 cr to TN; to introduce 6 new models including EVs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-seeks-12-75-for-cbm-gas-ongc-wants-9-35/articleshow/97867864.cms">Reliance seeks $12.75 for CBM gas, ONGC wants $9.35</a>

EV startup Magenta Mobility raises $40 million in equity and debt

EV startup Vidyut on Tuesday said it has raised $10 million in its Series A fundraise (a mix of equity and debt funding) led by 3one4 Capital, and will deploy new funds to scale its new offerings that include EV insurance, lifecycle management and EV resale. The round also witnessed participation from new and existing investors namely, Saison Capital, <keyword id="20657706" type="General" weightage="20" keywordseo="zephyr-peacock" source="keywords">Zephyr Peacock</keyword>, Force Ventures, a venture debt fund Alteria Capital and CEO of Udaan, <keyword id="20483955" type="General" weightage="20" keywordseo="sujeet-kumar" source="keywords">Sujeet Kumar</keyword>. Founded in 2021, the startup said it aims to expand its presence to 40 cities and will double its team size by the end of FY25 as it prepares to build a full stack EV ecosystem. "Our focus is not just on financing but on elevating the entire EV ownership journey for India's SMBs, who are the backbone of our economy," said <keyword id="20657704" type="General" weightage="20" keywordseo="gaurav-srivastava" source="keywords">Gaurav Srivastava</keyword>, co-founder of Vidyut. The company already offers ownership solutions for Mahindra, Piaggio, Altigreen, Murugappa Group's Montra Electric, Euler Motors and OSM vehicles. "Vidyut's model removes EV adoption barriers, especially in the large but price sensitive driver cum owner segment. At 3one4 Capital, we are excited to back the Vidyut team in their mission to simplify EV ownership," said <keyword id="20657703" type="General" weightage="20" keywordseo="sonal-saldanha" source="keywords">Sonal Saldanha</keyword>, Vice President, Investments, 3one4 Capital. "After hitting an inflection point, customised financing and lifecycle management solutions will play a central role in large scale EV adoption, requiring lenders to evaluate asset risk alongside borrower risk," added <keyword id="20657705" type="General" weightage="20" keywordseo="dhairen-tohliani" source="keywords">Dhairen Tohliani</keyword>, Vice President, Alteria capital. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a><a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank">Dell XPS 17 9730 review – Feature-packed laptop but at a premium</a><a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank">ViewSonic VX3219 2K PRO gaming monitor – Reliable at an affordable price</a>

EV startup Vidyut raises $10 mn to build full-stack ecosystem

<ul><li>Tiger Global has invested in three B2B ecommerce platforms <keyword id="8032183" type="General" weightage="20" keywordseo="infra-market" source="Orion">Infra.Market</keyword>, <keyword id="3119222" type="General" weightage="20" keywordseo="moglix" source="Orion">Moglix</keyword> and <keyword id="3259676" type="General" weightage="20" keywordseo="Ofbusiness" source="Orion">OfBusiness</keyword> this year.</li><li>The three players compete with each other in this sub segment of B2B, but the intricacies of their businesses are quite different.</li><li>OfBusiness is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits.</li></ul>OfBusiness, which allows businesses to purchase bulk orders from sellers online, has doubled its valuation to $3 billion in a $207 million fresh funding round led by Tiger Global. The company was valued at $1.5 billion in July, when it raised $160 million from SoftBank, Falcon Edge and Matrix Partners. Softbank, along with Falcon Edge-managed Alpha Wave Incubation, also participated in the latest round with an infusion of $43 million. New York-based Tiger Global — which is also an investor in other business-to-business (B2B) marketplaces Infra.Market and Moglix — has infused $150 million in the New Delhi-based startup. It is likely to infuse another $15-20 million in the coming round. This is the third major funding round closed by OfBusiness this year. In April this year, the company <a href="https://www.businessinsider.in/business/startups/news/sme-financing-platform-ofbusiness-raises-110-million-from-falcon-edge-capital-valuation-hits-800-million/articleshow/81962626.cms">had raised $110 million</a> led by Falcon Edge Capital at a valuation of $800 million. Interestingly, this is also the third unicorn investment made by Tiger Global in the B2B ecommerce space. Infra.Market, Moglix and OfBusiness are competitors in this sub segment of B2B, but the intricacies of their businesses are quite different. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Focus area </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infra.Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Construction material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OfBusiness </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing and infrastructure development material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Moglix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial and home products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.33 billion </td></tr></tbody><tbody></tbody></table> The nearly $3 billion worth <keyword id="6357316" type="General" weightage="20" keywordseo="udaan" source="Orion">Udaan</keyword>, too, is a <a href="https://www.businessinsider.in/business/startups/news/udaan-fires-half-its-contract-employees/articleshow/75357229.cms">prominent player </a>in the B2B ecommerce space. It helps small businesses to procure products — across categories like electronics, home and kitchen, staples, fruit and vegetables, and more — at lower prices. <keyword id="7466761" type="General" weightage="20" keywordseo="zetwerk" source="Orion">Zetwerk</keyword> — valued at $1.33 billion — entered the unicorn club this year, when it raised $150 million in a round led by D1 Capital. It focuses on online sale of manufacturing material. What is OfBusiness up to? Founded by Asish Mohapatra, Bhuvan Gupta, Vasant Sridhar, Ruchi Kalra and Nitin Jain in 2015, the New Delhi-based startup is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits. It has a separate entity, NBFC Oxyzo Financial Services, to offer financing solutions to SMEs. This entity has a loan book of $240 million, with 5,000 borrowers to the list. The company claims to be at an annual revenue run-rate of $1.4 billion. It further plans to increase this with expansion of its operations and acquisition of other businesses, Mohapatra <a href="https://economictimes.indiatimes.com/tech/funding/ofbusiness-valuation-doubles-to-3-billion-after-tiger-global-led-funding/articleshow/86645251.cms">told</a> The Economic Times. It claims to be underway to close several such acquisitions. The company competes with platforms like Moglix, Infra.Market, Zetwerks and others on the B2B ecommerce business fronts. In SME lending, it is competing with other platforms like BharatPe, LendingKart, Aye Finance and many others. OfBusiness, along with its B2B ecommerce rivals mentioned above, are among the 28 startups that entered the unicorn club this year, with a valuation of over $1 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paras-defence-maruti-suzuki-airtel-vodafone-idea-and-other-top-stocks-to-watch-out-for-on-october-1/slidelist/86670108.cms" data-type="tilCustomLink">Paras Defence, Maruti Suzuki, Airtel, Vodafone Idea and other top stocks to watch out for on October 1</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms" data-type="tilCustomLink">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a> <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">4-year old Ola Electric is now worth over a half of its older sibling Ola</a>

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

<ul><li><keyword id="6357316" type="UNKNOWN" weightage="20" keywordseo="Udaan">udaan</keyword> has raised $585 million from investors like Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. </li><li> udaan’s valuation soars to $2.8 billion with a total <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword> of $870 million.</li><li>The <keyword id="2526464" type="PERSON" weightage="20" keywordseo="B2B-e-commerce">B2B e-commerce</keyword> startup is one of the fastest Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> to reach unicorn status (have a valuation of $1 billion).</li></ul>Indian B2B e-commerce platform udaan has raised a whopping $585 million from Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. The startup’s existing investors Lightspeed Venture Partners and DST Global too participated in the series D round. With the latest funding, udaan’s valuation soars to $2.8 billion with a total funding of $870 million. In September 2018, udaan became one of the fastest Indian startups to reach unicorn status with a valuation of $1 billion. According to <a href="https://techcrunch.com/2019/10/02/udaan-series-d/">reports</a>, this is the biggest single funding round raised by a B2B platform in India. Udaan works as a marketplace for products across lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, toys and general merchandise. Its clients are manufacturers and business owners like shopkeepers. It has a network of 3 million retailers in 900 cities, who are connected to 20,000 sellers across the country. With the latest funding, udaan will invest in further building its platform. “We are building udaan as a trusted partner for small businesses across the country, to empower these entrepreneurs with technology, financial inclusivity, and supply chain capabilities to compete and win in an increasingly tech and digital world,” said a statement by its co-founders Amod-Malviya, Vaibhav Gupta and Sujeet Kumar.

Udaan raises a whopping $585 million to hit a valuation of $2.8 billion

Chhath Puja 2024 Wishes

Bank holidays in India

ChatGPT will let you create images for free

Should the government give freebies to the poor?

World’s most powerful passports

Jio vs Airtel vs Vi Prepaid Plans

You Searched For "udaan fund raise" and got 5 results

Udaan raises $120 mn in funding winter, plans IPO in 12-18 months

IANS

EV startup Magenta Mobility raises $40 million in equity and debt

IANS

EV startup Vidyut raises $10 mn to build full-stack ecosystem

IANS

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

Kritti Bhalla

Udaan raises a whopping $585 million to hit a valuation of $2.8 billion

Sanchita Dash

Popular Keywords

Buying Guides