Funding round
Udaan Series B
Udaan, which works in B2B marketplace platform development in Bengaluru, raised $50M in a Series B round announced on 21 Feb 2018, led by Lightspeed Venture Partners. 7 firms took part, 3 of them already investors. It is Udaan's second venture round on record; the one before was a Series A in Nov 2016.
$50M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Udaan did not disclose a valuation in this round. It came 15 months after Udaan's Series A. It is 4.9% of the $1.02B Udaan has raised in the venture rounds on record. Udaan raised again 7 months later: a Series C round of $225M in Sep 2018, at $1.00B post-money.
Udaan's funding rounds
Udaan has 6 venture rounds on record and 3 other deals. This one is highlighted.
- Series A 23 Nov 2016, led by Lightspeed Venture Partners $10M
- Series B this round 21 Feb 2018, led by Lightspeed Venture Partners $50M
- Series C 1 Sep 2018, led by DST Global and Lightspeed Venture Partners $225M$1.00B post-money
- Series D 6 Jan 2021 $280M$3.10B post-money
- Debt not a venture round 5 Jan 2022 $200M
- Debt not a venture round 27 Oct 2022, led by Existing Shareholders and Bondholders $120M
- Series E 14 Dec 2023, led by M&G $340M
- Debt not a venture round 28 Oct 2024 $36M
- Series G 2 Jun 2025, led by M&G Investments and Lightspeed $114M$1.80B post-money
Investors
Who put money in
Lightspeed Venture Partners led the round with 6 other firms. Lightspeed Venture Partners, Lightspeed Venture Partners and DST Global had backed Udaan before.
Lead investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
Also in the round
- backs 36 venture-backed companies existing investor
- DST Global backs 179 venture-backed companies existing investor
- Apoletto Limited new investor
- Apoletto Investments IV, L.P. new investor
- Fifth Avenue Private Equity 13 LLC new investor
- Board of Trustees of the Leland Stanford Junior University new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series B rounds in Groceries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Groceries | 30 May 2018 | $12M | not disclosed | 3L Growth Equity |
| Groceries | 16 Aug 2018 | $51M | not disclosed | SBI Holdings |
| Groceries | 9 Oct 2018 | $20M | $112M | Enlightened Hospitality Investments |
| Picnic Groceries | 1 Mar 2017 | $110M | not disclosed | NPM Capital and De Hoge Dennen |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Udaan raise in its Series B round?
Udaan raised $50M in its Series B round, announced in Feb 2018.
Who led Udaan's Series B round?
Lightspeed Venture Partners led it, with Lightspeed Venture Partners, DST Global, Apoletto Limited, Apoletto Investments IV, L.P. and Fifth Avenue Private Equity 13 LLC and 1 more.
What was Udaan's valuation at the Series B round?
It was not disclosed.
Did Udaan raise again after this round?
Yes: a Series C round in Sep 2018 of $225M at $1.00B post-money.