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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The B2B e-commerce startup is set to raise fresh funds on the back of a revamp across its operations and workforce.
Editor's note: For a few weeks now, B2B e-commerce startup Udaan has been in talks to raise a big funding round. The discussion with investors to raise money through convertible notes—debt that converts into equity at a later date—is nearing conclusion. The amount raised by the company will be around $200 million, says a person aware of the developments. The Economic Times was the first to report last week that Udaan is going to raise $150-200 million. Earlier this year, in January, Udaan had raised $275 million in a mix of convertible notes and debt. The upcoming fundraise is different—and significant—for three reasons. One, even amid a funding winter, Udaan has managed to avoid a down round. The person cited above confirmed that the new funding round won’t be a down round and that the valuation is higher than the over $3 billion at which Udaan was last valued; we could not ascertain the valuation at which the company is raising. Additionally, venture capital firm Lightspeed Venture Partners, which owns more than 40% of Udaan and has invested about $400 million in …
In light of the recent exits of top executives at Swiggy’s quick commerce business, we look at the reasons behind the departures and whether it’s impacting the business.
India’s leading tech hardware distribution company is making the most of the unprecedented rise in global prices of laptops and other tech hardware. There’s just one problem.
Reliance Consumer Products is relying on aggressive pricing in the hope that its staples brand will become a household name. But such tactics can go only so far.
