Friday, 24 March, 2023

Udaan Delays its IPO While Raising $120 M Through Convertible Notes

<p>Through debt financing from its current stockholders, Udaan has raised $120 million. Aditya Pande, the chief financial officer of the company, sent an internal email to all of the employees informing them of this. The startup wants to fund an additional $30 to $50 million in a separate tranche. The projected Initial Public Offering (IPO) of the B2B eCommerce unicorn will probably be postponed by 12 to 18 months as it continues to gather money from different sources.</p>