Funding round
Udaan Series E
Udaan, which works in B2B marketplace platform development in Bengaluru, raised $340M in a Series E round announced on 14 Dec 2023, led by M&G. 3 firms took part, 3 of them already investors. It is Udaan's fifth venture round on record; the one before was a Series D in Jan 2021.
$340M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Udaan did not disclose a valuation in this round; its last disclosed one was $3.10B at the Series D (Jan 2021). It came 35 months after Udaan's Series D. It is 33% of the $1.02B Udaan has raised in the venture rounds on record. Udaan raised again 18 months later: a Series G round of $114M in Jun 2025, at $1.80B 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 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 this round 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
M&G led the round with 2 other firms. M&G, Lightspeed Venture Partners and DST Global had backed Udaan before.
Lead investor
- M&G existing investor
Also in the round
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- DST Global backs 179 venture-backed companies 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: Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Travel Agencies | 7 Dec 2023 | $210M | not disclosed | Bessemer Venture Partners |
| Devoted Health Insurance - Agents, Carriers & Brokers | 29 Dec 2023 | $175M | $12.87B | The Space Between (TSB) and Highbury Group |
| VAST Data Software Development Services | 6 Dec 2023 | $118M | $9.10B | Fidelity Management & Research Company |
| Pharmaceutical Products | 21 Dec 2023 | $101M | $251M | Sarissa Capital |
| Medical Supply Manufacturers | 31 Dec 2023 | $85M | not disclosed | Novo Holdings |
| Loans & Financing | 6 Dec 2023 | $10M | not disclosed | Encourage Capital |
| Electric Supplies & Power Generation | 1 Nov 2023 | $185M | not disclosed | Just Climate |
| BlueVoyant Tech Companies | 29 Nov 2023 | $140M | not disclosed | Liberty Strategic Capital and ISTARI |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Udaan raise in its Series E round?
Udaan raised $340M in its Series E round, announced in Dec 2023.
Who led Udaan's Series E round?
M&G led it, with Lightspeed Venture Partners and DST Global.
What was Udaan's valuation at the Series E round?
It was not disclosed; its last disclosed one was $3.10B at the Series D (Jan 2021).
Did Udaan raise again after this round?
Yes: a Series G round in Jun 2025 of $114M at $1.80B post-money.