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Udaan raises $280 mn from existing, new investors, valuation crosses $3 bn

The additional financing exercise takes the overall funding raised by Udaan to date to $ 1.15 billion

Topics
B2B startups | e-commerce market | MSME financing

Peerzada Abrar  |  Bengaluru 

Sources say one of the reasons why the pandemic has hit Udaan hard is its business model itself
The additional funds will be deployed towards continued market creation of b2b e-commerce in India.

After bouncing back from the Covid-19 pandemic slump, Udaan — the business-to-business (B2B) e-commerce start-up — has raised $280 million in additional financing from its existing and new investors. The existing investors of Udaan — Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital, and Tencent — participated in the funding exercise. Two new investors — Octahedron Capital and Moonstone Capital — also participated.

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First Published: Wed, January 06 2021. 16:23 IST
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