- Udaan fires 100+ after raising $340M despite attaining the fastest Indian unicorn status.
- Cuts target redundancies accelerate path to profitability ahead of planned IPO.
- Repeated workforce trimming suggests a focus on leanness, even with external funding.
Post-Funding Layoffs
B2B e-commerce platform Udaan has laid off approximately 100-120 employees just days after raising $340 million in Series E funding, Tech in Asia has learned.
The latest cuts come as the Indian unicorn aims to accelerate its push towards profitability.
An Udaan spokesperson confirmed the redundancies to Tech in Asia, stating, “We continue to make relevant interventions to our already proven business model” while remaining customer-focused.
Path to Success
Impacted employees will receive assistance, including insurance, compensation, and placement support.
But the move signals Udaan trimming inefficiencies even after major funding rounds. It follows 300+ dismissals last November, shortly after a $120 million raise.
The Lightspeed Ventures-backed startup enables 3 million small manufacturers, farmers, and brands to sell online across India’s towns and cities.
Founded in 2016, Udaan attained unicorn status faster than any Indian startup. However, its path to profitability has necessitated streamlining amid broader B2B struggles in India.
Continuous Optimization
The company still targets an IPO within 18 months. While funding continues, Udaan appears intent on leanness by continually assessing workforce optimization.
The latest round of cuts suggests the unicorn will stay decisive on costs despite external capital, keeping profitability the priority to enable its public listing goals.
