Bengaluru, June 2 -- Business-to-business e-commerce company Udaan has secured $114 million in a Series G equity fundraising round led by existing backers M&G Investments and Lightspeed Venture Partners. The firm didn't disclose what it was valued at in this fundraising round.

The Bengaluru-based company plans to use the fresh capital to expand itsrange of products, with a focus on the fast-moving consumer goods (FMCG) and hotel, restaurant, and catering (HoReCa) segments. Its existing range of products include electronics, home & lifestyle, and pharmaceuticals.

Udaan will also accelerate its private label or in-house brands initiative in the staples category, the firm said in a press statement on Monday.

Udaan said it cut its Ebitda b...