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Udaan's FMCG business head, Vinay Shrivastava, has resigned amid a series of senior exits at the B2B e-commerce firm. Shrivastava, with nearly four years at Udaan, contributed to significant growth in market share and business. Udaan is restructuring its teams and business verticals, merging essentials with discretionary business. Shrivastava's departure follows the exits of the group CFO and other senior executives since September 2023. The company recently raised $340 million in Series E, but its valuation reportedly fell to around $1.8 billion in a down round.

Switzerland-headquartered impact investor responsAbility will invest up to $25 million (Rs 207 crore) in electric mobility startup BluSmart.  The investment comes as a part of responsAbility’s ......

The exit comes after Udaan's CBO and CTO also left the startup in September

Deals within ecommerce nearly halved by value to 3.3 billion while the number fell 70% to 124 deals. Apparel and retail, however, saw deal transaction surge seven times, led by Reliance Retail which raised nearly $1.6 billion from Qatar Investment Authority and Abu Dhabi Investment Authority. Lenskart also received a funding of $500 million during the first half of 2023, followed by M&G Plc, Lightspeed Venture Partners and DST Global buying a stake in Udaan last month.

Grant Thornton Bharat: The number of deals through mergers and acquisitions and private equity funding in the consumer sector dropped to 331 last calendar year from 514 a year earlier while the drop in value was 9% lower at $8.6billion against $9.3 billion largely led by ecommerce sector even as textiles, durables and retail sector saw higher deal count, said the report shared exclusively with ET.