· Udaan acquires ShopKirana in an all-stock deal to boost profitability and IPO readiness.

· Strengthens presence in Tier 2 & Tier 3 cities and expands FMCG and HoReCa verticals.

· Follows Udaan’s recent $114M Series G funding; aims for better unit economics and logistics.

Bengaluru-based B2B unicorn Udaan has acquired Indore-based retail-tech startup ShopKirana in an all-stock deal, aiming to accelerate its growth towards profitability and a planned IPO.

Under the agreement, Udaan will take over full equity in ShopKirana. In return, ShopKirana’s founders and early backers  including InfoEdge Ventures and Sixth Sense Ventures  will receive a minority stake in Udaan.

“This acquisition is a strategic milestone on our IPO and beyond journey,” said Vaibhav Gupta, co-founder and CEO of Udaan.

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Founded in 2015, ShopKirana built a robust supply-chain network focused on kirana stores in Tier 2 and Tier 3 cities such as Indore, Bhopal, Agra, Meerut, and Surat. It also operates Kisan Kirana, a private-label brand dealing in staples like rice, pulses, and spices.

This acquisition gives Udaan a deeper foothold in the FMCG segment and expands its presence in HoReCa (Hotel, Restaurant, Catering) categories. With the merger of local supply-chain relationships and credit infrastructure, Udaan aims to boost unit economics, widen market reach, and enhance sourcing and logistics efficiency.

The deal comes soon after Udaan’s Series G funding round, which raised $114 million from Lightspeed Venture Partners and M&G Investments. These funds will be channeled toward strengthening core business verticals and streamlining operations.

Established in 2016, Udaan is one of India’s largest B2B e-commerce platforms, with a wide presence in pharma, fresh produce, and working capital lending via UdaanCapital.

The combined entity is expected to scale high-turnover categories, improve operational leverage, and deliver enhanced value using data-driven logistics and digital infrastructure.