Startup Profile

Udaan

Legal entity: Hiveloop Technology Private Limited

India's largest B2B e-commerce platform for small retailers

B2B ServicesUnicornMarketplace· Bengaluru, Karnataka· Est. 2016Website ↗
Udaan is a Bengaluru-based B2B e-commerce platform that connects manufacturers, wholesalers and brands with small retailers (kirana stores, chemists, restaurants) across India. It handles online ordering, logistics and working-capital financing for categories like FMCG, staples, fresh produce and pharma. Founded in 2016 by three former Flipkart executives, it became India's fastest unicorn in 2018
Funding raised
₹13700.00 Cr
Total disclosed
Latest valuation
₹14940.00 Cr
Most recent round
Latest revenue
₹5706.60 Cr
FY FY24
Employees
—
FY FY24

Founders

  • Sujeet Kumar

    Co-founder and CEO of Udaan. Former President of Operations at Flipkart, where he built the operations and supply-chain network. He drove Udaan's logistics and B2B network buildout.

  • Amod Malviya

    Co-founder of Udaan. Former Chief Technology Officer / head of technology at Flipkart, where he built and scaled the engineering platforms. Leads technology vision at Udaan.

  • Vaibhav Gupta

    Co-founder of Udaan. Spent about five years in leadership roles at Flipkart, where he built and scaled the business finance and analytics function. Has held the CEO role and finance leadership at Udaan.

Funding rounds

  1. Series G2025-06-02₹946.20 CrLed by M&G
  2. Series E2021-01-01₹2324.00 Cr
  3. Series D2019-08-14₹4855.50 CrLed by DST Global
  4. Series C2018-09-03₹1867.50 CrLed by DST Global
  5. Series B2018-02-10₹415.00 CrLed by Lightspeed Venture Partners
  6. Series A2016-11-01₹83.00 CrLed by Lightspeed India

Financials

MCA / self-reported
Fiscal yearRevenueProfit / (Loss)Employees
FY24₹5706.60 Cr(₹1674.10 Cr)—
FY23₹5609.30 Cr(₹2075.90 Cr)—

The full story

Rich-text rendering of long_story is wired in the design pass.

Timeline

  1. 2025-06-02Series G closes at $114M ahead of possible IPO — M&G and Lightspeed lead a ~$114M Series G at a flat ~$1.8B valuation, with funds used to strengthen the balance sheet ahead of a potential public listing.
  2. 2024FY24 losses narrow as growth stalls — Gross revenue stays roughly flat at Rs 5,706.6 crore while net loss narrows ~19% to Rs 1,674.1 crore as the company prioritizes unit economics over GMV.
  3. 2021Valuation peaks at ~$3.2 billion — After a $280M round, Udaan's valuation reaches its peak of about $3.2B amid the pandemic-era B2B commerce boom.
  4. 2019-08-14$585M Series D — One of the largest B2B funding rounds in India, led by DST Global with Altimeter Capital, cementing Udaan's market leadership.
  5. 2018-09-03Becomes India's fastest unicorn — A $225M Series C led by DST Global and Lightspeed values Udaan at $1 billion, making it the fastest Indian startup to reach unicorn status (just over two years from founding).
  6. 2016Founded by three ex-Flipkart executives — Sujeet Kumar, Amod Malviya and Vaibhav Gupta launch Udaan in Bengaluru with a beta and a $10M Series A.

Data sources

  • seed-list + Crunchbase ODM↗ · last fetched 2026-05-28
  • Editorial (press release)↗ · last fetched 2026-05-28
  • Editorial (press release)↗ · last fetched 2026-05-28
  • DPIIT (Startup India)↗ · last fetched 2026-05-28
  • Wikidata↗ · last fetched 2026-05-28
  • favicon↗ · last fetched 2026-05-31
  • Udaan official About Us page↗ · last fetched 2026-06-01
  • Entrackr - Udaan FY24 financials↗ · last fetched 2026-06-01
  • Entrackr - Udaan Series G closes at $114M↗ · last fetched 2026-06-01
  • Entrackr - Udaan becomes fastest unicorn (Series C)↗ · last fetched 2026-06-01
  • Inc42 - Udaan fastest unicorn / Series A $10M↗ · last fetched 2026-06-01
  • YourStory - Series D $300M+ DST Global / Altimeter↗ · last fetched 2026-06-01
  • YourStory - Udaan raises $280M (Series E era)↗ · last fetched 2026-06-01
Updated 2026-06-01