The deal gives the B2B platform new distribution networks and Swiggy a stake in its business.
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The deal gives the B2B platform new distribution networks and Swiggy a stake in its business.
Udaan, a business-to-business e-commerce platform, has acquired LYNK Logistics from food-delivery company Swiggy for 500 crore rupees. According to filings from The HinduBusinessLine and mint, the payment is in the form of preference equity shares issued to Swiggy, giving it a roughly 2.8% stake in Udaan's parent company, Trustroot Internet Private Ltd.
Swiggy will also make a separate primary equity investment of 75 crore rupees for an additional 0.4% stake, mint reported, bringing Swiggy's total holding in Udaan to about 3.2%. The deal is subject to regulatory approvals and is expected to close by October 22.
LYNK is Swiggy's retail distribution arm, focusing on distributing fast-moving consumer goods to retail stores using technology for warehousing and logistics. The HinduBusinessLine reported that the acquisition adds LYNK's distribution network in Bengaluru, Hyderabad, Chennai, and Kolkata, markets that together account for about 75% of LYNK's revenue.
According to mint, LYNK generated 668 crore rupees in revenue in the year ending March 2026, accounting for 2.9% of Swiggy's consolidated revenue. Swiggy had acquired LYNK in 2023 to enter India's retail distribution market.
The sale represents a change in Swiggy's strategy for the B2B distribution business it entered with LYNK. Instead of wholly owning the operation, Swiggy will now retain exposure to the market through its minority stake in Udaan.
Swiggy Group Chief Financial Officer Rahul Bothra, quoted by mint, said the company remains a believer in the opportunity and called Udaan a 'category creator' in the space. He stated that combining LYNK with Udaan's scale and technology would create a stronger platform for brands and retailers.
The HinduBusinessLine reported that Udaan recently completed a $160 million recapitalization involving investors like Lightspeed Venture Partners. The company has seen its revenue grow at a compound annual rate of about 25% over the last ten quarters, with a nearly 500 basis point improvement in its contribution margin and a roughly 70% reduction in its EBITDA burn.
The filing also noted that Udaan's operations in Bengaluru have reached EBITDA profitability.
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The acquisition adds LYNK’s distribution network across Bengaluru, Hyderabad, Chennai and Kolkata
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