With this acquisition, Udaan will deepen its focus on profitability and bolster its presence in FMCG segment

Udaan has not disclosed the financial terms of the deal

Last month, Udaan closed its Series G funding round at $114 Mn

B2B ecommerce platform Udan has acquired retail tech startup ShopKirana in an all-stock deal to deepen focus on profitability and bolster its presence in FMCG and hotel, restaurant, and catering (HoReCa) sectors.

However, the company did not disclose the financial terms of the deal.

The acquisition comes a month after Udaan closed its $114 Mn Series G funding round.

The buyout will help Udaan to integrate ShopKirana’s retailer network and expertise in the FMCG space with the former’s tech infrastructure and supply chain capabilities.

“This acquisition is a strategic milestone in our journey to the IPO and beyond. ShopKirana has a quality team, who have worked in-depth on the FMCG category and excelled at designing for costs,” said Udaan cofounder and CEO Vaibhav Gupta.

ShopKirana’s stakeholder Info Edge said in a separate statement that the company will transfer its entire shareholding (60,673 shares or 26.14% stake) in ShopKirana to Udaan’s subsidiary HEPL, in exchange for a stake in the subsidiary.

With this, Info Edge will get 1,68,70,568 shares of HEPL aggregating to about 0.91% stake in the company.

(The story will be updated soon.)