Lightspeed-backed Indian commerce Udaan raises $120 million

India’s Udaan has raised $120 million in convertible notes and debt led by existing shareholders and bondholders, a top executive told employees in an email Thursday seen by TechCrunch, as the business-to-business e-commerce startup works to being ready for the public markets in 12-18 months.
The new financing brings the startup’s overall funding in convertible notes and debt in the last four quarters to over $350 million, Udaan’s chief financial officer Aditya Pande wrote in an email Thursday. These financing rounds are “one of the largest structured instrument fund ra

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