The latest funds will be used to drive growth for ShareChat's short-video app Moj, the company said in a statement, a platform which is similar to TikTok
Lightspeed Venture Partners leads round, with participation from existing investors Vertex Ventures, Nexus Venture Partners, Strive VC and SAP.iO Fund
Udaan said it enables small manufacturers, farmers, mills, and brands to sell their products across the country at low costs, with 100 per cent payment security and transparency
This will be the best exit in India in terms of returns
Agarwal's stake in the company will rise from the current 9-10% to around 30%
Alsthom Industries, a Dalmia Group company, and Pawan Munjal Family Trust also participated in the funding round
Lightspeed invests from seed-stage to Series-B; often in pre-product or pre-revenue and then works closely with the company