Udaan lays off over 100 employees

“But, these interventions have also resulted in some redundancies in the system,” the spokesperson said in a statement.

Update: 2023-12-19 02:49 GMT

Representative image.

NEW DELHI: Homegrown B2B e-commerce platform Udaan, which raised $340 million last week, laid off more than 100 employees as part of a restructuring exercise.

A spokesperson said they have made significant progress in their journey towards building a profitable business and “continue to make relevant interventions to our already proven business model while remaining customer-centric and agile”.

“But, these interventions have also resulted in some redundancies in the system,” the spokesperson said in a statement.

The Bengaluru-based firm, which has raised $1.8 bn till date, restructured its business units in September to merge the essentials business and the discretionary business.

“We remain committed to our goal of driving Kirana commerce and empowering small & medium businesses of Bharat by leveraging the power of e-commerce,” the spokesperson added. In 2022, Udaan had fired over 500 employees in two phases.

Last week, the B2B platform raised $340 mn (equity and convertible notes) in a Series E round led by UK-based M&G Prudential, besides existing investors Lightspeed Venture Partners and DST Global.

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