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

2016

Founding of Udaan

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Udaan (company) Series A round, November 2016
10,000,000
November 23, 2016
5 Results
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People

Name
Role
LinkedIn

Amod Malviya

Co-Founder

Keshav Kumar

Employee

Sujeet kumar

Co-Founder

Vaibhav Gupta

Co-Founder

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
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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