Udaan
India's largest B2B e-commerce platform, selling FMCG, staples, fresh produce and pharma to kiranas, small retailers, and HoReCa businesses, with logistics and working-capital credit.
Udaan (legal name Hiveloop Technology) is a B2B marketplace that connects manufacturers, wholesalers and brands with small retailers, kirana stores, chemists, hotels and restaurants. It earns money from trade on the platform, supply-chain and logistics services, and credit through its fintech arm udaanCapital. It has raised about $2.15B in total and was valued at about $1.8B in 2025, after a $114M Series G in 2025. Operating revenue fell about 20% to ₹4,561 crore in FY25, down from a peak of about ₹10,000 crore in FY22, as it cut non-essential categories and shrank from 80 cities to 16. Its net loss narrowed 37% to ₹1,055 crore. The company is targeting an IPO by early 2028.
