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Udaan (company)

Udaan (company)

Udaan is an Indian business-to-business e-commerce company based in Bengalore. It was registered as Hiveloop Technology pvt.ltd. in 2016.

Udaan is an Indian business-to-business e-commerce company founded by Flipkart veterans Sujeet Kumar, Amod Malviya and Vaibhav Gupta. It was registered as Hiveloop Technology in 2016.

The company picks up products from manufacturers and sellers in 80-100 cities and delivers across 800-900 cities and towns. It operates in the apparel, electronics, staples and fast moving consumer goods, clothing accessories, home appliances, kitchenware, toys, stationery, footwear and babycare.

Udaan offers credit lines to buyers and sellers on their platform financed by Udaan and non-banking partners.Non Banking Financial Companies working with Udaan are Hiveloop Capital Private Limited and Northern Arc Capital Limited.

Product

Udaan allows users to make ecommerce purchases and sales with secure payments and organized logistics. The platform is made for users to solving trade issues between small, medium, and large businesses across India looking to source merchandise from manufacturers, brands, white labels, and importers. The Udaan platform allows users to gain access to new markets in India with a low-cost and reliable shipping and delivery service. Udaan allows buyers and sellers to have one-on-one discussions with each other to negotiate terms of their transactions.

For each buyer to make purchases of products sold on Udaan they must meet the Minimum Order Quantity (MOQ) or Minimum order value (MOV) set by the seller, however buyers may privately message sellers to negotiate a lower MOQ or MOV.

Return policy

Return requests may be made from buyers purchasing products through Udaan because they are missing expected products or items, their order is damaged, or are having logistics issues with their orders. Different products sold on Udaan have time requirements placed on them for their return requests to be submitted from the date of shipment delivery: clothing (7 days), food-FMCG (3 days), phones (2 days), Information technology products (2 days), VAS (2 days), accessories and consumer electronics (2 days), footwear (14 days), toys and baby care (7 days), stationary and office supplies (7 days), fresh products (1 day), and pharmaceutical products (15 days).

Funding
Series A

In November of 2016, Udaan raised $10 million in Series A funding. Lightspeed Venture Partners India and LIghtspeed US participated in the round.

Series B

Udaan raised $50 million in February 2018 for their Series B round. Lightspeed Venture Partners, Lightspeed Venture Partners India and Apoletto led the round. Udaan committed the funds to expanding their team, technological infrastructure and expand their offerings.

Series C

Announced in September of 2018, Udaan raised $225 million in Series C funding. DST Global and Lightspeed Venture Partners participated in the round. The funding round valued Udaan at $1 billion, which came within 26 months of its launch.

Series D

Udaan announced $585 million raised in October 2019 for their Series D funding round. Participation in the round came from Tencent Holdings, Altimeter Capital, Footpath Ventures, Hillhouse Capital group, GGV Capital, Citi Ventures, DST Global and Lightspeed India Partners. The post-funding valuation of Udaan was somewhere between $2.3 and $2.7 billion.

They committed the new capital to extending their supply chain network and to scale UdaanCapital.

Timeline

April 29, 2021
Udaan announces an employee stock ownership plan (ESOP) liquidity programme worth Rs 165-175 crore for its employees.
January 2021
Udaan raises a $3,100,000,000 series D round from Altimeter Capital, DST Global, GGV Capital, Lightspeed Venture Partners, Moonstone Capital, Octahedron Capital and Tencent.
January 2021
Udaan raises a $280,000,000 series D round from Altimeter Capital, DST Global, GGV Capital IV L.P., Lightspeed Venture Partners, Moonstone Capital, Octahedron Capital and Tencent.
March 23, 2020
Udaan raises a $30,000,000 venture round.
October 2, 2019
Udaan raises a $585,000,000 series D round from Altimeter Capital, Citi Ventures, DST Global, Footpath Ventures, GGV Capital, Hillhouse Capital Group and Tencent.
September 3, 2018
Udaan raises a $225,000,000 series C round from DST Global and Lightspeed India Partners.
February 21, 2018
Udaan raises a $50,000,000 series B round from Lightspeed Venture Partners.
November 23, 2016
Udaan raises a $10,000,000 series A round from Lightspeed Venture Partners.
2016
Founding of Udaan

Funding rounds

People

Name
Role
LinkedIn

Amod Malviya

Co-Founder

Keshav Kumar

Employee

Sujeet kumar

Co-Founder

Vaibhav Gupta

Co-Founder

Further reading

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Documentaries, videos and podcasts

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Companies

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News

Title
Author
Date
Publisher
Description
Madhurima Nandy
June 15, 2021
mint
In April, the company had said it will buy back employee stocks worth ₹165-175 crore, joining a slew of Indian startups that have launched such liquidity programmes for their employees amid the pandemic
Madhurima Nandy
April 29, 2021
mint
All employees, who are not serving notice period and who have vested stock as on 31 March 2021, will be eligible to participate in the programme
Press Trust of India
April 2, 2021
@bsindia
GMV is a term used in online retailing to indicate the Gross Merchandise Value of products sold through the marketplace over a certain period of time
Andy Mukherjee | Bloomberg
March 2, 2021
@bsindia
Away from this high-profile fight for the ordinary Indians wallet, a different contest is shaping up for control of what goes on shop shelves
Press Trust of India
February 21, 2021
@bsindia
B2B e-commerce major Udaan on Sunday said it added about one lakh new businesses last year on the platform under its Lifestyle segment under which over 230 million products were shipped.
Peerzada Abrar
February 11, 2021
@bsindia
Udaans GMV has increased from about $0.6 billion ARR in December 2018 to around $2.1 billion ARR in December 2020, according to US-based research powerhouse Bernstein
Surajeet Das Gupta
January 19, 2021
@bsindia
The B2B market (excluding industrial goods) stands at $780 billion and on an annualised basis, Udaan has already clocked up $2.4 billion in gross merchandising value
Press Trust of India
January 18, 2021
@bsindia
Hummel is a Danish sportstyle brand
Peerzada Abrar
January 6, 2021
@bsindia
The additional financing exercise takes the overall funding raised by Udaan to date to $ 1.15 billion
Manish Singh
January 6, 2021
TechCrunch
Business-to-business marketplace Udaan has raised $280 million from new and existing investors as the Indian startup builds a war-chest to accelerate its growth and fend off rivals. The new capital is not part of a new financing round but is an extension of Series D. The Bangalore-based startup, which secured $585 million prior to the [...]
Peerzada Abrar
January 6, 2021
@bsindia
Udaan has products across categories such as lifestyle, electronics, home and kitchen
Madhurima Nandy
December 23, 2020
DealStreetAsia
The volume of transaction handled on the platform in the food category makes Udaan the largest grocery platform in the country.
Peerzada Abrar & Bibhu Ranjan Mishra
June 8, 2020
@bsindia
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to Indias fastest growing unicorn
April 25, 2020
Entrackr
Economics graduate from Lady Shri Ram College for women, Delhi University, I am here at Entrackr to explore and know the budding ecosystem of entrepreneurs and startup. Through my writing, I want to provide readers with a deep insight upon the global economy.
Press Trust of India
February 1, 2020
@bsindia
FCM Travel Solutions MD said the budget reflects a potential for growth in both domestic as well as inbound tourism
Vinay Umarji
January 28, 2020
@bsindia
The number of offers, made by 131 recruiters, too rose by 22.4 per cent over last year, even as IIM Kozhikode placed all 413 students who participated in the process
Vinay Umarji
November 11, 2019
@bsindia
Read more about Amazon top recruiter as IIM Kozhikode wraps up summer placements on Business Standard. In all, 131 companies extended offers to 462 students with the highest stipend pegged at Rs 320,000 for the two-month internship
October 6, 2019
WebWire
As an eCommerce storekeeper, you presumably have a ton on your plate. From overseeing stock, conversing with providers, making content, overseeing advertisements, there's a ton to do. You can only accomplish a certain amount yourself with the limited amount of time you have available. Fortunately, these days, you can outsource everything from substance marketing and planning to your finance and accounting. Successful Costa Rican businessman Jose Duarte talks about the possibilities that...
Peerzada Abrar
October 3, 2019
@bsindia
Read more about E-commerce platform Udaan raises $585 mn from Tencent, Footpath Ventures on Business Standard. Udaan said it enables small manufacturers, farmers, mills, and brands to sell their products across the country at low costs, with 100 per cent payment security and transparency
Our Bureau
October 2, 2019
@businessline
Udaan, a business-to-business (B2B) e-commerce platform, raised $585 million from Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. Existing investors Lightspeed Ventur

References

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