India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#364- Valuation
- ₹15,270 Cr
2023 #247 2022 #156 2021 #186
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About Udaan
Udaan is a Retail company based in Bengaluru (India) founded in 2016 by Rajan Dua, Vaibhav Gupta, Amod Malviya, and Sujeet Kumar. Online marketplace offering multi-category products. Udaan has raised $2.7 billion across 22 funding rounds from investors including Swiggy, Microsoft and Tencent. The company has 1,590 employees. Udaan has completed 1 acquisition, including ShopKirana. Udaan was last valued at $1.6 billion in June 2025. Its chief executive, as recorded, is Vaibhav Gupta. Its website udaan.com draws about 129 thousand monthly visits. Udaan offers products and services including Udaan Platform, Udaan App, and Product Catalog. Its focus areas include B2B E-Commerce, Horizontal and Marketplace. Its competitors include IndiaMART, Solv and ProcMart; 3 of its 3 listed competitors have raised funding.
Company details
Founded in 2016 in Bengaluru, India, the company operates as an e-commerce platform focused on B2B trade. A diverse range of products, including groceries, electronics, clothing, hardware tools, and medicines, is made available for retailers and businesses to source and sell. Transactions between shop owners and suppliers are enabled through features like seller KYC verification, multiple payment methods, and an efficient return system.
Recognitions & Rankings of Udaan
Operational Areas
Key Metrics
- Annual Revenue$41.77 M (USD)-29as on Mar 31, 2024
- Net Profit-$79.47 M (USD)39as on Mar 31, 2024
- EBITDA-$67.76 M (USD)43as on Mar 31, 2024
- Total Equity Funding$2.7B (USD)
in 22 rounds
- Latest Funding Round$7.94M (USD), Series H
Sep 2026
- InvestorsSwiggy
& 58 more
- Employee Count1,590
- Investments & Acquisitions
Associated legal entities of Udaan
Udaan is associated with 2 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Hiveloop Internet Private Limited CIN U74999KA2017PTC107051 | Active | 10 Oct 2017 | Bangalore, Karnataka | ₹7.7 Cr | 5 | 3 | View details |
| Hiveloop Technology Private Limited CIN U72900KA2016PTC093868 | Active | 03 Jun 2016 | Bangalore, Karnataka | ₹285 Cr | 1,124 | 3 | View details |
Products & Services of Udaan
Udaan offers a comprehensive portfolio of products and services, including Udaan Platform, Udaan App, and Product Catalog.
Udaan Platform
B2B Ecommerce
Online marketplace for wholesale buying and selling of products.
Udaan App
Mobile Trading
Mobile application for quick product browsing and ordering.
Product Catalog
Inventory Management
Digital catalog of over 5 lakh items across categories.
Funding Insights of Udaan
Udaan has successfully raised a total of $2.7B across 22 strategic funding rounds. The most recent funding activity was a Series H round of $7.94 million completed in September 2026. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $2.7B
- Total Rounds 22
- Last Round Series H — $7.94M
- First Round $10M
(Nov 2016)
- Investors Count 59
Latest 10 of 22 funding rounds of Udaan with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2026 | $7.94M | Series H | – | – | |
| Jul 2026 | Debt – Conventional | – | – | – | |
| Jul 2026 | $160M | Series H | – | – | |
| Jun 2025 | $39M | Series G | – | M&G, Lightspeed Venture Partners | – |
| Feb 2025 | $75M | Series G | – | M&G | |
| Oct 2024 | $35.67M | Debt – Conventional | – | – | |
| Dec 2023 | Debt – Convertible | – | M&G | ||
| Dec 2023 | $377.1M | Series E | $2.04B | M&G | |
| May 2023 | Debt – Conventional | – | – | ||
| Nov 2022 | $35M | Debt – Conventional | – | – |
Valuation history
| Date | Valuation | Stage |
|---|---|---|
| Dec 2023 | $2.04B | •••••••• |
| Jan 2022 | $3.1B | •••••••• |
| Jan 2021 | $••••• | •••••••• |
| Aug 2019 | $••••• | •••••••• |
| Sep 2018 | $••••• | •••••••• |
| Feb 2018 | $••••• | •••••••• |
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Full valuation and stage history of Udaan
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Last known valuation $1.6B (Jun 2025). 59 investors in total: 45 institutional and 14 angel.
Investors in Udaan
Udaan has secured backing from 59 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Swiggy, Microsoft and Tencent.
All
Venture Fund
Institutional
Angel
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Diversified asset management firm and private fund focused on debt and equity investments in climate startups, real estate, and multiple sectors | 1931 | mandg.com | London, United Kingdom | |
Venture capital investing in innovative companies across global sectors is undertaken by Lightspeed Venture Partners. | 1997 | lsvp.com | Menlo Park, United States | |
Venture debt financing is extended to companies across multiple sectors. | 2008 | innovencapital.com | Mumbai, India | |
Private debt and equity funds are managed for technology sectors. | trifectacapital.in | Gurugram, India | ||
Venture debt is provided to growth-stage companies for business scaling. | strideventures.global | Delhi, India | ||
Venture capital investment firm | dst-global.com | Menlo Park, United States | ||
Long/short equity hedge fund and VC fim | altimeter.com | Boston, United States | ||
Venture capital firm focused on multiple sectors | ishanacapital.com | Hong Kong, China | ||
Private debt fund focused on growth-stage technology companies | evolutionx.com.sg | Singapore, Singapore | ||
Investment group focusing on private equity and co-investments in the SAMENA region. | 2008 | samenacapital.com | Dubai, United Arab Emirates |
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Investor details for Udaan
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Board of directors of Udaan
The boards of the 2 registered companies of Udaan currently have 6 directors; the longest-serving is Krishna Menon Vishnu Menon, appointed in 2022. 23 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Krishna Menon Vishnu Menon DIN 07315528 | Director | 14 Oct 2022 | 4 yrs | Hiveloop Technology Private Limited |
| Nitesh Kumar DIN 10518127 | Whole-time director | 27 Feb 2024 | 2 yrs 8 mo | Hiveloop Internet Private Limited |
| Bharath Sohanlal Gandhi DIN 10605344 | Whole-time director | 26 Apr 2024 | 2 yrs 6 mo | Hiveloop Internet Private Limited |
| Ankit Gupta DIN 10044673 | Director | 30 Sep 2024 | 2 yrs 1 mo | Hiveloop Technology Private Limited |
| Bannari Jagathish DIN 11222871 | Whole-time director | 05 Aug 2025 | 1 yr 3 mo | Hiveloop Technology Private Limited |
| Deepak Kumar Tripathi DIN 11431713 | Additional Director | 17 Dec 2025 | 10 mo | Hiveloop Internet Private Limited |
People of Udaan
91 people are tracked at Udaan (38 in leadership, 53 in team); the tracked headcount is 1,590.
| Name | Role | Group |
|---|---|---|
Rajan Dua | Founder & Managing Director | Leadership |
| Co-Founder & CEO | Leadership | |
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
Pukhraj Joneja | CEO | Leadership |
Kajal Paul | Cluster Head - Bangalore City Operations | Leadership |
Saurabh Agarwal | Associate Director | Leadership |
Kamal Yadav | Associate Director - Category | Leadership |
Ajeesh P G | Chief Information Officer (cio) | Leadership |
Pankaj Kadian | State Head | Leadership |
Rohit Kharwar | Regional Head (p&l) | Leadership |
Hindole Dutta | Director Of Products - Accounting & Controls | Leadership |
Mayank Agarrwal | VP & Group Head Treasury I Wholetime Director - Indusage Techapp Private Ltd. | Leadership |
Megha Latawa | Head HR - Customer Discretionary Categories, Udaan | Leadership |
Amit Meharia | Associate Director | Leadership |
Ankit Arora | Head Of Business Operations | Leadership |
Deepak Yadav | Regional Business Head | Driving Growth & Strategy | Transformative Leadership | Leadership |
Viju Koshy | Head Underwriting, 3pl & Debt Capital Markets | Leadership |
Kalpeeshh Mehta | National Head - Sales & GTM Horeca | Leadership |
Abhinav Anand | Regional Cluster Business Head | Leadership |
71 more people are available in the full profile.
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Financials of Udaan
Figures of Hiveloop Internet Private Limited, the primary company behind Udaan, for FY 2025. Revenue was ₹7.67 Cr (+106% year on year). Net loss was -₹3.11 Cr (-41% margin). EBITDA was -₹3.11 Cr (-41% margin). Revenue has grown at a compounded annual rate of -6% over three years and -2% over five years.
- ₹7.67 CrRevenue · FY 2025 · +106% YoY
- -₹3.11 CrNet loss · -41% margin
- -₹3.11 CrEBITDA · -41% margin
- ₹2.65 CrPaid-up capital
- 5Employees (provident fund records)
- -6%Revenue CAGR, 3 years
- -2%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Hiveloop Internet Private Limited are on its company page.
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Detailed financial statements for Udaan
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Investments & Acquisitions by Udaan
Udaan has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include ShopKirana.
Acquisitions
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Provider of B2B procurement platform for grocery retailers | shopkirana.com | Indore, India | 2015 | Jul 2025 | •••• |
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Timeline of Udaan
6 dated milestones of Udaan across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Udaan is founded.
- Funding First funding round of $10.0M.
- Milestone Reaches Minicorn status.
- Milestone Reaches Unicorn status.
- Acquisition Acquires ShopKirana.
- Funding Latest funding round, Series H, of $7.9M.
Competitors of Udaan
Udaan has 3 listed competitors in our database, 3 of them funded. They include IndiaMART, Solv and ProcMart.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| indiamart.com | 1999 | Noida, India | $37.24M | 3,623 | Online B2B marketplace connecting buyers and suppliers of diverse industrial products | |
| solvezy.com | 2019 | Bengaluru, India | $40M | 412 | A B2B e-commerce platform is operated for MSMEs in India. | |
| procmart.com | 2015 | Noida, India | $40.25M | 423 | Online platform offering procurement and supply chain solutions |
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Detailed competitors of Udaan
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Web traffic of Udaan
The website of Udaan (udaan.com) receives about 129.5K visits a month.
- Monthly visits129.5K
▼ 10.4% vs previous month
Similar websites
Websites whose visitors overlap most with Udaan. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| meesho.com | 100% | 54.7M | #606 | View details | |
| wholesaledock.com | 94% | 8.7K | View details | ||
| tradeindia.com | 89% | 10.2M | #6,969 | View details | |
merkandi.in | merkandi.in | 85% | #213,471 | – | |
| metro.co.in | 85% | 72.5K | #421,852 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
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Top companies in B2B Marketplaces & Wholesale
2 companies that operate in the same segment as Udaan (B2B Marketplaces & Wholesale) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online B2B marketplace connecting buyers and suppliers of diverse industrial products | 1999 | Noida, Uttar Pradesh, India | USD 38.2 M | USD 167.23 M | 6,222 | |
Digital procurement and supply solutions for construction materials are facilitated. | 2016 | Thane, Maharashtra, India | USD 783.57 M | USD 1.43 B | 2,645 |
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Related news about Udaan
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Articles about Udaan on our blog
- India Startup Funding 2026: 50 Large Rounds Ranked13 Oct 2026
- Most Active Startup Investors in India, 2026: 20 Firms09 Oct 2026
- Indian Startup Funding, September 2026: 56 Rounds, $901 Million02 Oct 2026
- Startup Acquisitions in India, 2026: 15 Deals and Their Terms24 Sep 2026
- 5 Indian Startups That Became Career Incubators for Engineers09 Dec 2020
Frequently Asked Questions about Udaan
Udaan was founded in 2016.
Udaan is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Vaibhav Gupta is the CEO of Udaan, as recorded in our data. They have also founded this company.
Udaan is a funded company, having raised a total of $2.7B across 22 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $35M, raised on Nov 2016.
Udaan has 1,590 employees.
Annual revenue of Udaan is $41.77M as on Mar 31, 2024.
Founded in 2016 in Bengaluru, India, the company operates as an e-commerce platform focused on B2B trade. A diverse range of products, including groceries, electronics, clothing, hardware tools, and medicines, is made available for retailers and businesses to source and sell. Transactions between shop owners and suppliers are enabled through features like seller KYC verification, multiple payment methods, and an efficient return system.
Udaan offers Udaan Platform, Udaan App, and Product Catalog.
Udaan has made 1 acquisition, including ShopKirana.
Udaan has 59 investors. Key investors include Swiggy, Microsoft, Tencent, Kaiser Permanente, and Citi.
The valuation of Udaan is $1.6B as of Jun 2025.