Udaan closes another Rs 300 crore in debt from Lighthouse Canton, Stride Ventures, others

On-line business-to-business platform Udaan on Monday stated it has closed a debt-financing spherical of about Rs 300 crore from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The fund homes have collectively invested roughly Rs 300 crore in Udaan through the present monetary 12 months, an organization assertion stated, including that the funds will likely be used to strengthen its place as the popular associate for kirana stores and small companies throughout the nation.

The unicorn stated it should use the recent capital to increase its geographical footprint by way of its ‘Micro-Market technique’, optimise operations, improve Go-to-Market (GTM) capabilities, streamline provide chain processes, and open new micro-fulfilment centres.

“By prioritising each operational excellence and long-term profitability, Udaan goals to strengthen its management within the eB2B area and strengthen its place as the popular associate for kirana shops and small companies throughout Bharat,” the assertion stated.

The newest spherical of debt funding is an endorsement of the constant quarter-on-quarter development achieved by the corporate during the last ten quarters, Kiran Thadimarri, Senior Vice President, Group Finance, Udaan, stated.

“This funding will additional strengthen our monetary place, offering the pliability to double down on key strategic initiatives comparable to increasing our Cluster mannequin to drive operational excellence enabling us to proceed on our path to profitability whereas solidifying our market place,” he stated.

This fundraiser follows Udaan’s USD 340 million Collection E financing spherical in December 2023.