Udaan’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: TRUSTROOT INTERNET PRIVATE LIMITED | CIN: 201733628M
Udaan, co-founded by Amod Malviya, Sujeet Kumar, and Vaibhav Gupta, is a leading B2B e-commerce platform in India. Established in 2016, Udaan enables retailers, wholesalers, and manufacturers to connect and transact seamlessly across various categories like electronics, apparel, FMCG, and more. The company's technology-driven approach helps digitize supply chains, improve distribution efficiency, and empower millions of small businesses across the country. With strong backing from global investors and a valuation exceeding $2 billion, Udaan is strategically positioned to drive the next wave of digital trade transformation in India.
| Founded | 2016 |
|---|---|
| Headquarters | Bengaluru |
| Valuation | ~$2 Billion |
| Annual Revenue (FY23 est.) | ~$300 million |
| Net Profit (FY23 est.) | Negative (growth stage) |
| Employees | ~4,000 |
| Round | Year | Amount | Valuation | Investors |
|---|---|---|---|---|
| Series E | 2023 | $377M | ~$2B | Lightspeed, DST Global, Tencent |
| Series D | 2021 | $200M | ~$3.1B | Microsoft, Kaiser Permanente, Nomura |
| Series D | 2019 | $585M | ~$2.7B | Altimeter Capital, GGV Capital |
| Series C | 2018 | $225M | ~$1B | DST Global, Lightspeed India |
| Series B | 2018 | $50M | ~$200M | Lightspeed India |
Udaan has witnessed impressive revenue growth, rising from around ₹5,000 crore in FY22 to about ₹9,000 crore in FY23, driven by expansion in its B2B e-commerce operations. Although losses persist due to heavy investments in logistics and credit services, the narrowing deficit indicates operational improvements. The consistent revenue momentum highlights Udaan’s strong market positioning among small and medium enterprises across India.
Expenses have grown alongside revenue due to logistics expansion and technology investments. While margins remain negative, operational efficiencies are expected as scale increases and supply chain automation advances.
Udaan’s workforce expanded from around 3,500 in FY22 to 4,500 in FY24, reflecting strong growth in operations, technology, and customer support functions to support nationwide expansion efforts.
• Expand reach to tier-2 and tier-3 cities across India.
• Enhance technology stack to support faster delivery and better user experience.
• Strengthen credit services for small retailers.
• Invest in supply chain infrastructure and automation.
• Evaluate IPO timing based on market readiness and growth trajectory.
Udaan continues to raise significant capital and announce strategic partnerships to expand its distribution and logistics capabilities. The company is poised to become the backbone of digital trade for India’s massive retail market.
| Metric | Detail |
|---|---|
| Revenue FY24 | ~$400M – Strong growth momentum |
| Profitability | Negative – Focus on scale and reach |
| Employees | ~4,500 – Strong team expansion |
| Market Position | Leader in Indian B2B e-commerce |
Company websites, media reports, and publicly available funding data.
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