Udaan (Trustroot Internet Private Limited)
Technology · B2B Marketplace
Awaiting a verified source quote. No third-party quote is on record for this company yet, so there is no indicative price to show — and we would rather leave it blank than print a number we cannot stand behind. Our team can confirm the current dealable level directly.
Indicative private-market reference — not an exchange quote. Not investment advice.
- Implied valuation
- Not available
- Revenue growth
- Not disclosed
- EBITDA margin
- Not disclosed
- Prospera Score
- Not yet scored
What the market says, and what we know.
Two separate things, deliberately shown side by side: a sourced private-market price reference, and the depth of research that actually stands behind this company today.
No third-party quote has been sourced for this company yet, so there is no market reference to show. Ask us to check the current level and we will come back with what the market is actually doing.
- Research Universe — availableCatalogued as a strategically relevant private-market company.
- Basic Research — availableBusiness and ownership facts verified against primary sources — 2 sourced records on file.
- Deep Research — not availableNot started. No financials, no implied valuation and no Prospera Score exist for this company.
- Prospera Recommendation — not availableNo Prospera view has been published. Presence in the universe is not a recommendation.
Indicative Private-Market Price History
Real, dated third-party observations only — plotted where they exist, never interpolated, extended or carried forward. This is a record of private-market sightings, not a live exchange chart.
Price history not available. No dated third-party quotes have been sourced for this company yet.
The business, in plain English.
Assembled only from records that exist for this company. Anything not disclosed says so.
- Founded
- 2016
- Headquarters
- Bengaluru, Karnataka
- Sector
- Technology · B2B Marketplace
- Promoters
- Amod Malviya, Sujeet Kumar, Vaibhav Gupta
What it does
Udaan operates a B2B e-commerce marketplace connecting manufacturers, wholesalers, traders and retailers across categories including FMCG, electronics, and apparel, and has expanded into supply-chain financing and logistics for small and medium businesses. It earns revenue on transaction margins, commissions and lending/logistics services layered onto its core marketplace.
Source: Microsoft News India / company profileWhy it matters
Competes with Amazon Business, Flipkart Wholesale, IndiaMART and Jumbotail in India's B2B e-commerce and small-business supply space.
Source: Not attributedOwnership structure
Backed by Lightspeed Venture Partners, M&G Investments, DST Global and Tencent from earlier rounds; its valuation fell about 43.5% to roughly $1.7-1.75 billion in a January 2024 down round; BlackRock's private credit arm and existing backers Lightspeed and M&G participated in a 2026 structured financing combining fresh equity, new debt and conversion of outstanding convertible bonds
Promoters & principal holders: Amod Malviya, Sujeet Kumar, Vaibhav Gupta
Private-market context
Unlisted; under significant financial strain after defaulting on $170 million in convertible notes that matured June 30, 2026; raised $160 million in structured financing in July 2026 to shore up its balance sheet while continuing to prepare for an eventual listing
What to understand before investing
- Unlisted shares can be difficult to sell. There may be no continuous market and no guaranteed buyer at the price you see.
- Any price shown here is an indicative private-market reference, not an exchange quote and not an executable price.
- An expected IPO may be delayed, repriced or never happen at all.
- A good company can still be a poor investment at the wrong valuation.
Research is not yet complete for this company.
We would rather say that plainly than publish a page that looks finished.
No financials, no implied valuation and no peer comparison have been researched for this company yet.
No Prospera Private Market Score and no Prospera view exist. Being in our universe is not a recommendation, and we will not manufacture one to fill this space.
What you can rely on above is what has actually been verified: the company's identity and business facts, any sourced price observations on record, and any risks that have been documented. If you want us to prioritise deeper work here, ask — that is genuinely how the queue gets set.
What could go wrong.
Documented, per-company risks — grouped by the categories the research itself recorded. There is no risk score here, because we do not compute one.
Business
1 recorded riskValuation fell about 43.5% to roughly $1.7 billion in a January 2024 down round from a 2021 peak of $3.1 billion, and the company has conducted multiple rounds of layoffs (500+ jobs cut across 2022-2023) while chasing profitability.
Source: Business StandardFinancial
1 recorded riskDefaulted on $170 million in convertible notes that matured on June 30, 2026, and required a subsequent $160 million structured financing combining fresh equity, new debt, and bond conversion to avoid insolvency proceedings.
Source: Bloomberg / The Next WebWhat's happened, and why it matters.
Dated, sourced events only — recorded as they were reported, in reverse order of significance to a private-market holder.
- Fundraising14 Jul 2026
Secures $160 million in structured financing
Aimed at repairing Udaan's balance sheet after it defaulted on $170 million in convertible notes that matured on June 30, 2026, as it races to become IPO-ready
Source: Bloomberg
Everything traceable.
Every figure on this page comes from one of the records below. Where a source published a link, it is here.
| Field | Source | As of |
|---|---|---|
| Business Description | Microsoft News India / company profile | Not disclosed |
| Competitive Position | Not attributed | Not disclosed |
Interested in Udaan (Trustroot Internet Private Limited)?
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We will come back with the current dealable level, the available lot size and what the process actually involves. Indicative prices shown on this page are private-market references, not executable quotes.