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Udaan | The largest B2B e-commerce platform supplying small shops

2026.09.19

Article summary

Udaan (operated by Hiveloop Technology) is a B2B e-commerce company founded in Bengaluru in 2016. Its co-founders are three former Flipkart executives. It combines a system letting independent retailers order stock through an app with delivery and credit. Consolidated operating revenue for FY2025 (fiscal year ended March 2025) was ₹4,561.4 crore (1 crore = 10 million rupees), down about 20% year on year, and the net loss was ₹1,055.4 crore, 37% narrower than the year before. That followed its withdrawal from thin-margin categories and unprofitable regions. Cumulative funding is about 2.17 billion dollars.

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

Udaan is a B2B e-commerce platform connecting manufacturers, wholesalers and retailers. Three former Flipkart executives launched it in 2016, and it handles everything from food and everyday goods to electronics.

Company profile

Item	Details
Legal name	Hiveloop Technology Private Limited (brand name Udaan)
Year founded	2016
Headquarters	Bengaluru (Karnataka)
Co-founders	Amod Malviya, Sujeet Kumar, Vaibhav Gupta (all formerly of Flipkart)
Revenue (consolidated, operating revenue)	₹4,561.4 crore (FY2025 = fiscal year ended March 2025 / down about 20% from ₹5,706.6 crore the year before). The net loss was ₹1,055.4 crore, 37% narrower than the year before
Total funding raised	About 2.17 billion dollars (17 rounds. Most recently June 2025)
Listing	Unlisted
Official website	udaan.com

Business and strengths

It lets independent retailers order stock from an app and takes care of delivery and credit as well. Independent shops make up most of retail in India, so simply holding a route that reaches them directly is an asset.

From FY2023 onward it has withdrawn from thin-margin categories such as household goods and electronics and from unprofitable regions, switching to running the business in regional clusters.

Recent developments

Consolidated operating revenue for FY2025 (fiscal year ended March 2025) was ₹4,561.4 crore, down about 20% from ₹5,706.6 crore the year before. That followed its withdrawal from thin-margin categories and unprofitable regions, and the net loss narrowed 37% year on year to ₹1,055.4 crore. Cumulative funding is about 2.17 billion dollars, most recently in June 2025. It is also consolidating its corporate entities ahead of a listing.

Points for Japanese companies

Building your own sales network to spread consumer goods nationwide in India takes both time and money. A wholesale platform such as Udaan is a realistic option as the first route to get products moving. Prices become visible, however, so the risk of price erosion has to be factored in.