Funding round
Udaan Series D
Udaan, which works in B2B marketplace platform development in Bengaluru, raised $280M in a Series D round announced on 6 Jan 2021, at a $3.10B post-money valuation. 7 firms took part, 5 of them already investors. It is Udaan's fourth venture round on record; the one before was a Series C in Sep 2018.
$280M
Amount raised
$3.10B
Post-money valuation
7
Investors
no lead named
3.1x
Step-up from the Series C
$1.00B in Sep 2018
9.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Udaan at $3.10B after the new money, 3.1 times the $1.00B of its Series C (Sep 2018). The $280M bought investors about 9.0% of the company. It came 28 months after Udaan's Series C. It is 27% of the $1.02B Udaan has raised in the venture rounds on record. Udaan raised again 35 months later: a Series E round of $340M in Dec 2023. Its next priced round, a Series G in Jun 2025, valued it at $1.80B.
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 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 this round 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
7 firms took part; no lead investor was named.
Investors
- backs 3 venture-backed companies new investor
- backs 6 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- DST Global backs 179 venture-backed companies existing investor
- GGV Capital existing investor
- Altimeter backs 67 venture-backed companies existing investor
- Tencent existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 2 in Groceries, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Weee! Groceries | 18 Mar 2021 | $315M | $2.80B | DST Global |
| Groceries | 16 Jan 2022 | $117M | not disclosed | not named |
| Rapyd Payment Processing & Point of Sale | 13 Jan 2021 | $300M | $2.50B | Coatue |
| Tech Companies | 28 Jan 2021 | $168M | $1.40B | Insight Partners and Salesforce Ventures |
| Medical Laboratories | 4 Jan 2021 | $167M | $1.50B | General Catalyst and T. Rowe Price Associates, Inc. |
| SmartHR Tech Companies | 1 Jan 2021 | $151M | not disclosed | not named |
| Tech Companies | 11 Jan 2021 | $140M | not disclosed | 腾讯 |
| Tech Companies | 6 Jan 2021 | $135M | $1.00B | Sapphire Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Udaan raise in its Series D round?
Udaan raised $280M in its Series D round, announced in Jan 2021.
Which investors took part in Udaan's Series D round?
Octahedron Capital, Moonstone, Lightspeed Venture Partners, DST Global, GGV Capital and Altimeter and 1 more.
What was Udaan's valuation at the Series D round?
$3.10B post-money.
Did Udaan raise again after this round?
Yes: a Series E round in Dec 2023 of $340M.