B2B e-commerce firm Udaan raises $75 million in funding from M&G, Lightspeed. The fresh funds will be used to deepen the company’s market penetration, strengthen strategic vendor partnerships, improve customer experience, and bolster its long-term supply chain and credit capabilities. Founded by former Flipkart executives, Sujeet Kumar, Amod Malviya and Vaibhav Gupta in 2016, Udaaan competes with players such as Amazon, Flipkarta, and Reliance’s JioMart in the B2B online retail space. The company’s fundraise comes less than a month after its peer, Bengaluru-based Inframarket, raised Rs 1,050 crore (roughly $120 million) in funding at a valuation of about Rs 24,147 crore (nearly $2.8 billion) It is also in talks to raise $20-30 million from family offices and high-net-worth individuals (HNIs) at valuation of $3.1 billion, Moneycontrol reported earlier.
