**Udaan, an Indian business-to-business (B2B) e-commerce platform, has raised USD 120 million in a Series D round of funding. The round was led by DST Global and Lightspeed Venture Partners, with participation from existing investors Tiger Global Management, Altimeter Capital, and GGV Capital.**.
**The fresh capital will be used to further expand Udaan’s reach in India, invest in technology and product development, and strengthen its supply chain.**.
**Udaan was founded in 2016 by Amod Malviya, Sujeet Kumar, and Vaibhav Gupta. The company provides a platform for businesses to buy and sell a wide range of products, including groceries, electronics, apparel, and industrial supplies.**.
**Udaan has grown rapidly since its launch. The company currently has over 3 million registered users and operates in more than 900 cities across India.**.
**The B2B e-commerce market in India is estimated to be worth USD 700 billion. Udaan is well-positioned to capitalize on this opportunity, given its strong team, technology platform, and extensive reach.**.
**The Series D round of funding is a major vote of confidence in Udaan’s business model. The company is now well-funded to continue its rapid growth and become a leading player in the Indian e-commerce market.**.
**In addition to the funding, Udaan also announced that it has appointed former Flipkart executive Kalyan Krishnamurthy as its new CEO. Krishnamurthy will be responsible for leading Udaan’s next phase of growth.**.
**Krishnamurthy is a highly experienced executive with a proven track record in the e-commerce industry. He was previously the CEO of Flipkart, India’s largest e-commerce company. Under Krishnamurthy’s leadership, Flipkart grew rapidly and became a major player in the Indian e-commerce market.**.
**The appointment of Krishnamurthy is a major coup for Udaan. He is a highly respected executive with a deep understanding of the e-commerce industry. His experience and leadership will be invaluable to Udaan as it continues to grow and scale its business.**.
**Udaan is a major player in the Indian e-commerce market. The company has a strong team, a proven track record, and a large and growing customer base. With the addition of Kalyan Krishnamurthy as CEO, Udaan is well-positioned to continue its rapid growth and become a leading player in the Indian e-commerce market.**.
