Indian B2B e-commerce platform Udaan has secured $160 million in new financing as it prepares for a planned initial public offering (IPO), according to coverage of the fundraising. The funding is intended to strengthen the company’s finances and “clean up” its balance sheet ahead of the capital markets listing.
Reporting describes the round as a mix of fresh equity, added debt, and the conversion of some existing convertible bonds into equity. The equity portion includes participation from a new investor, with Lightspeed Venture Partners and M&G Investments named among the participants. Bloomberg characterizes the overall objective as improving Udaan’s balance sheet before the IPO.
Taken together, the accounts agree that Udaan’s $160 million comes through multiple instruments—equity and debt alongside convertible-bond conversions—and that the timing is closely linked to the company’s IPO preparation.
