B2B ecommerce marketplace Udaan raised $6.7 million in debt from Blacksoil, Texas-based early-stage venture capital Corsa Ventures, VBG Group, and Walton Street India.
Udaan is India's largest business-to-business eCommerce platform, providing small businesses with the power and scale that eCommerce provides.
The news comes just a few weeks after Inc42 exclusively revealed Udaan's $10 million debt financing from debt venture capital firm InnoVen Capital. The new round of investment follows Udaan's shareholders' agreement to raise $269 million in debt financing within a year. Udaan has raised nearly $20 million in debt so far, and it is expected to raise more in the coming weeks. According to media reports, Udaan is expected to go public in the next two years.