Source: Indian B2B marketplace Udaan plans to lay off 325 to 350 employees, or about 10% of its workforce, a week after raising $120M in convertible debt (Deepsekhar Choudhury/Moneycontrol)

Manish Singh / TechCrunch:
Indian B2B marketplace Udaan raised $120M in convertible notes and debt, taking its funding to $350M+ in the past year, and plans an IPO in 12-18 months  —  India’s Udaan has raised $120 million in convertible notes and debt led by existing shareholders and bondholders …

Rebecca Bellan / TechCrunch:
TuSimple confirms plans to lay off 25% of its workforce, or an estimated 350 workers, following a rough year for the self-driving trucking company  —  Update: CEO Cheng Lu said laid off workers will remain on the payroll for two months and will receive severance.  —  Well, we knew it was coming.

Priyanka Iyer / Moneycontrol:
India-based DotPe, which helps businesses get online, raised a $58M Series B led by Temasek, and says it will introduce digital lending to merchants  —  The company plans to use the proceeds of the fundraise to grow its merchant base three times in the next two to three years

Kyle Wiggers / TechCrunch:
Versa Networks, which helps companies unify network and security tools into a single console, raised $120M in equity and debt, bringing its funding to $316M  —  Networking and cybersecurity firm Versa today announced that it raised $120 million in a mix of equity and debt led by BlackRock, with participation from Silicon Valley Bank.

Moneycontrol:
WhatsApp confirms Manesh Mahatme, who led its Indian payments business, has stepped down after 18 months; a source says Mahatme plans to rejoin Amazon  —  Mahatme’s resignation comes at a time when WhatsApp’s mobile payments business has failed to take off in a significant fashion in India

Nikhil Patwardhan / Moneycontrol:
Simplilearn, which offers upskilling courses, bootcamps, and certifications, raised $45M led by GSV Ventures; Blackstone acquired a $250M majority stake in 2021  —  The higher learning edtech platform will use the funds to boost its growth plans in India and international markets