eB2B platform Udaan on Monday announced that it has closed a debt financing round of Rs 300 crore from Lighthouse Canton, Stride Ventures. Innoven CapitalAnd Capital of the trio.

Bengaluru-based Udaan plans to use the funds to expand its geographic footprint through the company’s ‘micro-market strategy’ as it focuses on profitability by driving adoption among buyers and by expanding the share of the wallet.

It will also use the funds to improve its “go-to-market” (GTM) plans, streamline the supply chain, invest in opening new micro-fulfillment centers (MFCs) and improve the delivery experience. services. Udaan claims to have a 70% market share in India as it operates in categories such as FMCG, staples, fruits and vegetables, and pharmaceuticals.

“This funding will further strengthen our financial position, providing us with the flexibility to redouble our efforts on key strategic initiatives such as expanding our cluster model to drive operational excellence, enabling us to continue on our journey towards profitability while consolidating our position in the market,” noted Kiran Thadimarri, Senior Vice President, Group Finance, Udaan.

During the calendar year 2024, Udaan recorded a 60% growth in revenue and a 50% increase in the number of buyers transacting daily. During the same period, its gross margins improved by 200 basis points and its contribution margins by 300 basis points.

Oudan also achieved a 30% reduction in absolute EBITDA burn and a 20% increase in buyer wallet share.

Founded in 2016, Udaan farm a $340 million Series E funding round led by London-based global investment manager M&G Plc with participation from existing investors Lightspeed and DST Global late last year. After financing, the company laid 100 to 120 employees with greater emphasis on improving efficiency.