Udaan, the Indian e-commerce startup, is gearing up to execute a reverse flip from Singapore to India in preparation for its upcoming IPO, as reported by ET. This strategic move involves merging its Singapore-based holding entity with its Indian arm, Hiveloop Ecommerce, which will emerge as the parent entity post-restructuring. The decision to consolidate operations under a unified structure aligns with Udaan’s focused approach, shedding non-core categories like lifestyle and general merchandise to concentrate on essentials and grocery segments. Additionally, the company has optimized its operational reach, trimming down from 80 cities to 16 to boost operational efficiency.
Udaan’s financials reveal a revenue of approximately Rs 4,561 crore in FY25, showing a decline from around Rs 10,000 crore in FY22. However, the company managed to narrow its losses to Rs 1,055 crore during the same period.
In a bid to strengthen its position prior to the IPO, Udaan closed a Series G funding round at $114 million last year, with major investments from M&G Investments and Lightspeed. Following this, Udaan acquired retail tech startup ShopKirana. The recent trend of Indian startups like BRND.ME, PhonePe, Zepto, and others relocating their headquarters to India underscores the growing appeal of the Indian market for tech companies.
Source: Entrackr : Latest Posts