B2B e-commerce unicorn Udaan has secured $75 million in a Series G funding round, backed by long-standing investors M&G Prudential and Lightspeed Venture Partners. The Bengaluru-based startup is also in advanced talks to raise an additional $25 million in equity funding in the next quarter.

The latest capital infusion is set to power Udaan’s next phase of growth, with a sharp focus on enhancing customer experience, expanding market reach, reinforcing strategic supplier alliances, and scaling its logistics and credit infrastructure.

This raise follows Udaan’s $340 million fundraise in December 2023—also led by M&G and Lightspeed—and brings its total funding tally to a robust $1.88 billion.

In a strategic move to streamline operations, Udaan recently received the green light from the National Company Law Tribunal (NCLT) to consolidate all its business units under one umbrella entity, Hiveloop Ecommerce Pvt Ltd. This restructuring comes as the company gears up for a much-anticipated IPO, expected by late 2025 or early 2026.

Financially, the company showed signs of recovery in FY24, clocking a modest revenue uptick to ₹5,706.6 crore while narrowing its losses to ₹1,674.1 crore, down from ₹2,075.9 crore in FY23.

Founded in 2016 by ex-Flipkart leaders Sujeet Kumar, Amod Malviya, and Vaibhav Gupta, Udaan connects manufacturers, wholesalers, traders, and retailers across a wide network spanning over 900 cities in India.