Udaan’s valuation shrinks by 43.5% to $1.7 billion in Series E round

Business-to-business (B2B) e-commerce company Udaan’s valuation has fallen by about 43.5 per cent to around $1.75 billion in a down round (post-allotment of Series E round), according to people familiar with the development. At its peak, the Bengaluru-based unicorn was valued at $3.1 billion in January 2021.

In December 2023, Udaan raised $340 million in Series E financing amid tight liquidity conditions and a global economic slowdown. The funding round was led by M&G plc, with participation from existing equity investors Lightspeed Venture Partners and DST Global.