udaan secures $160M in financing

IPO-bound eB2B platform udaan on Tuesday said it has secured $160 million in a financing round through the issuance of fresh equity and debt, as well as through the conversion of existing debt into equity. The proposed transaction includes an infusion of fresh capital from existing equity shareholders, alongside a new investor, the company said in a statement. udaan's existing shareholders include the likes of M&G and Lightspeed Venture Partners.