Sunday, March 03, 2024
Outlook.com
Outlook India
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Udaan

Aditya Pande, former CFO of IndiGo and B2B e-commerce start-up Udaan, is set to assume the role of Group CEO at InterGlobe Enterprises (IGE) from March 1, 2024

As founders opt for a flatter organisational structure, prioritize profitability and focus on product initiatives, should staffers at start-ups be worried about their future?

Udaan is undergoing a business restructuring, transitioning from a nationwide focus to a cluster model. This transition has impacted the existing workforce of the company

RCPL's (Reliance Consumer Products Ltd) range of Campa beverages will be initially available in over 50,000 retailers and kirana stores, which will gradually expand to over 1 lakh retailers and kirana stores in the next two months, udaan said

Pravega Ventures led this round with participation from family investors such as Weizmann Group, Telama Family Office and Apurva Parekh, Pidilite Family Office

Amongst sectors, edtech has been hit brutally

India is currently the home of the third largest ecosystem of start-ups after the US and China

In October 2022, the company raised $120 million through convertible notes from its existing shareholders

Founded in 2016 by Vaibhav Gupta, Sujeet Kumar, and Amod Malviya, Udaan achieved its unicorn status in 2018

With this round, Udaan claimed that the total funds raised through convertible notes and debt in the last four quarters have crossed $350 million