Udaan buys Swiggy’s Lynk Logistics for ₹500 crore

Udaan, a business-to-business (B2B) ecommerce platform, is acquiring Lynk Logistics, a retail distribution firm owned by Bengaluru-based Swiggy. The deal would value Lynk Logistics at ₹500 crore.As per the deal, Swiggy would take a 2.8% stake in Udaan as part of the transaction and additionally, the company would also invest ₹75 crore in primary equity in Udaan for an additional ~0.4% stake.According to a media statement, the transaction would be settled through the issuance of preference equity shares to Swiggy in Trustroot Internet Private Limited (TIPL), the parent entity of Udaan. The transaction is expected to build on Udaan’s recent $160 million recapitalisation exercise, comprising fresh equity, new debt and debt-to-equity conversion by Lightspeed Venture Partners, M&G Investments and Moonstone Capital, including approximately $45 million of private credit financing from a leading global investment management firm.Vaibhav Gupta, Co-Founder and CEO, Udaan, said, “This deal is a strong endorsement of the huge eB2B opportunity and the progress Udaan has made in building an efficient and sustainable business. We have remained focused on strengthening our fundamentals, improving unit economics and demonstrating the scalability of our cluster-led operating model.’’The acquisition of Lynk would further strengthen the platform’s business and expand its presence across some of India’s most important consumption markets, he added.Rahul Bothra, CFO, Swiggy Ltd said, a large B2B opportunity existed in the country and bringing Lynk together with Udaan, combined complementary capabilities with Udaan’s scale and technology-led platform serving India’s retail ecosystem. “We’re confident this brings LYNK’s brands and retail partners a stronger platform to grow on, and we look forward to seeing Udaan build on this in its next phase of growth,’” he added.Over the last 10 quarters from Q4 CY23 to Q1 CY26, Udaan’s revenue grew at a CAGR of approximately 25%, while contribution margin improved by nearly 500 basis points and EBITDA burn reduced by around 70%. The company has also continued to scale higher-margin businesses, with private labels now contributing 15–25% of Staples sales across operating cities. Bengaluru, Udaan’s largest operating city, has achieved EBITDA profitability, demonstrating the scalability of its cluster-led operating model and providing a strong foundation to extend profitability across its broader network, as per data provided by the Udaan. Published - September 07, 2026 07:14 pm IST