B2B ecommerce platform Udaan raised $10 million from debt venture firm InnoVen Capital. Udaan has allotted 750 non-convertible debentures to pick up $10 million from InnoVen Capital, according to a resolution passed by the company on November 2.
Udaan is India's largest b2b eCommerce platform, empowering small businesses with the power and scale that eCommerce provides. The news comes almost a month after Inc42 exclusively reported that Udaan had received shareholder approval to raise $27 million by allocating NCD over a one-year period. In the latter half of September, the company raised $6.7 million in multiple tranches from another debt venture capital firm, Blacksoil.
Udaan received $280 million in funding in January of this year from Octahedron Capital, Moonstone Capital, Lightspeed Venture Partners, and others, for a $3.1 billion valuation.