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Udaan’s gross revenue shrinks 43%, losses reduce 33% in FY23

Entrackr · 1y

Indian B2B e-commerce firm Udaan experienced a 43.1% decline in its gross revenue (GMV) to Rs 5,629 crore in FY23. The sale of traded goods accounted for 96% of the company's revenue but also saw a decrease of 43.7% to Rs 5,408 crore. Udaan's cost of procurement, which forms 69% of its total burn, decreased by 43.4% to Rs 5,349 crore. The company's losses reduced by 33.7% to Rs 2,076 crore in FY23. Udaan has raised Rs 11,800 crore across rounds and has external shareholders including Lightspeed, DST Global, and Tencent.