Udaan

With this, Info Edge has joined Udaan's cap table. The deal follows a recent $114-million fundraise led by M&G and Lightspeed

Udaan builds payment system to cut external dependence, secures RBI nod for HIPL

Udaan, which lists Yes Bank as its official aggregator, is expected to gradually transition transaction flows to its in-house aggregator HIPL

Udaan raises $114 million in extended Series G round led by M&G and Lightspeed

Udaan said the fresh capital will be used to deepen its presence in fast-moving consumer goods (FMCG) and the HoReCa (Hotel, Restaurant, and Catering) segment, expand its private label brands in staples, and strengthen its balance sheet ahead of a potential public listing.

B2B e-commerce firm Udaan raises $75 million in funding from M&G, Lightspeed

Founder and CEO Vaibhav Gupta, during a townhall on February 17, said that the company is in advanced discussion to close an additional $25 million in equity funding over the next quarter

B2B platform udaan sees sale of 2.25 billion products in 2023; 900 sellers achieved sales worth Rs 1 crore each

As many as 31 million electronics products, nearly 30 million products each in lifestyle and general merchandise category, 10 lakh tonnes of essentials, and 2 lakh tonnes of FMCG (fast-moving consumer goods) products were sold through the platform, udaan said in a statement.

Interglobe Enterprises appoints ex-Udaan CFO Aditya Pande as Group CEO, effective March 1

With the exception of IndiGo, Pande will have overall responsibility for setting InterGlobe's strategic agenda, the company said in a statement.

Udaan CFO Aditya Pande quits, third top exit in less than 6 months

The exit comes after Udaan's CBO and CTO also left the startup in September

Morning Scan: All the big stories to get you started for the day

A roundup of top newspaper stories to keep you ahead of the others.

Udaan fires over 100 employees days after securing $340 million in capital

This is the second instance, in the last 13 months, where Udaan has sacked staffers soon after raising a new round of capital.

Udaan secures $340 million in debt, equity from M&G Plc, other existing investors

Udaan’s business is now fully funded and on course to achieve its objective of becoming profitable in the next 12-18 months, per the company.

Udaan saw revenue fall by over 40% in FY23; losses narrow by 20%

In FY23, Udaan’s expenses totaled to Rs 7,775 crore, which was about 40 percent lower than roughly Rs 13,000 crore in FY22

Udaan loses CTO and CBO amid rejig

The decision to create new different units is likely because Gaurav Bhalotia, who led Udaan's Tech function until now, will be leaving the company

MC Interview |​ Betting on collaborations, tourism around Goa for new airline: Fly91 CEO Manoj Chacko

The new airline’s aim is to tie up with larger airlines and fly passengers to underserved places in the neighbourhood of its base in Goa.

Reliance Consumer Products, udaan partner for pan-India distribution of Campa beverages

Reliance Consumer Products Ltd range of Campa beverages will be initially available in over 50,000 retailers and kirana stores, which will gradually expand to over 1 lakh retailers and kirana stores in the next two months

Udaan product shipment jumps six-fold to 1.7 billion in 2022

The Lightspeed Venture and Microsoft-backed unicorn had shipped 260 million products, catering to around 50 million orders in 2021 -- which was hugely impacted by the COVID-19 pandemic.

EvolutionX Debt Capital commits $35-40 million investment in udaan

While both the companies did not disclose the corpus, sources aware of the development said that the commitment is in the range of USD 35-40 million (about Rs 286-326 crore).

Moment of truth for Indian startups likely next year: Flipkart's Kalyan Krishnamurthy

Panel discussion at Bengaluru Tech Summit discussed valuations, India’s strength in the tech and startup ecosystem, backing innovative local ideas and the way forward, among others.

Udaan prepares to lay off over 10% of employees, a week after $120 million financing

Up to 350 on-payroll employees to get impacted, apart from a number of contractual workers

B2B e-commerce firm Udaan raises $120 million in convertible debt

The fundraising comes ahead of a planned IPO and gives investors enough time to convert the debt into equity.

Udaan starts multiple deliveries per day for pharmacies in six cities

During the pilot phase, the business witnessed a 45 per cent rise in orders in the select cities.

IPO market for India tech startups still nascent: Lightspeed’s Bejul Somaia

Somaia talks about plans for the new $500-million fund, exit opportunities, and the 70% cash-burn reduction at portfolio company Udaan, among other things

Moneycontrol Daily: Your Essential 7

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Udaan lays off 180 employees in 'efficiency enhancement exercise'

The company, which was valued at over $3 billion in its last funding round, had an employee strength of around 4,000 before the layoffs.

Microsoft joins B2B platform Udaan's $225 million debt round

With the closure of the convertible notes round, the total funds raised by Udaan through debt and convertible cotes in the last six months have reached nearly $275 million.

Udaan removes 1 year ESOP cliff, employees can now tender shares every quarter

The one year cliff period is a widely prevalent industry practice that requires employees to wait for one year for their ESOPs to start vesting.