udaan raises $160M ahead of IPO, blending equity, debt and conversions
Bengaluru-based eB2B platform udaan secured $160M through fresh equity, debt, and conversion of existing debt to equity, including ~$45M in private credit. Backers include M&G Investments and Lightspeed Venture Partners. The round strengthens its balance sheet as the company preps for public markets.
IPO-bound eB2B platform udaan secured $160M via fresh equity, debt, and conversion of existing debt to equity, including ~$45M private credit, to strengthen its balance sheet ahead of public market plans.
Why this matters
The $160M raise, mixing equity, debt, and conversions, signals udaan shoring up its balance sheet as it positions for a public listing, a milestone move for the Bengaluru eB2B platform.
Retail-company signals are accelerating, up +795200% QoQ.