Udaan bags funding worth $200 million
Financial Express Mumbai|January 06, 2022
CASH-RICH:

SALMAN SH Bengaluru, January 5

B2B E-COMMERCE START-UP Udaan has secured fresh funding worth $200 million or through a convertible note st from five marquee e investors, according to an inter5- nal email sent to employees by ES its chief financial officer Aditya Pande. FE has reviewed the copy of the mail sent to Le employees on Wednesday.

A source aware of the development confirmed the funder ing but did not share details of Le the investors. Sources added et that the $200 million round was oversubscribed by 2 times.

"We are excited and glad to share that we have five newmarat quee investors coming onboard 1- the Udaan juggernaut, as part of our recently concluded convertible note financing. This round <, was oversubscribed 2x and also st saw participation from our existing investors, including those who bought into the company through the secondary (ESOP) round in H1 2021," Pande said in the email.

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