India’s Udaan secures $160 million in new funding as it races to fix its balance sheet before an IPO

Indian B2B ecommerce company Udaan has raised $160 million through a mix of new equity, debt, and bond conversions to improve its financial position ahead of a planned IPO within two years. The funding round involves new and existing investors and addresses a recent default on convertible notes. Founded in 2016, Udaan connects manufacturers and wholesalers with small retailers across India and holds a significant share of the country's B2B ecommerce market.