Business-tobusiness (B2B) e-commerce major Udaan said it has raised USD 280 million (about Rs 2,048 crore) in funding from existing and new investors, including Lightspeed Venture Partners and Tencent. Existing investors of Udaan - Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital, and Tencent - participated in the latest funding exercise, in addition to two new investors - Octahedron Capital and Moonstone Capital, a statement said.
With the latest capital infusion, Udaan has raised USD 1.15 billion in total till date. While the company did not disclose the details around valuation, sources said the valuation has crossed USD 3 billion post this transaction. The latest capital infusion is additional financing to the company's series D round.
Udaan had announced raising USD 585 million in series D funding round in October 2019 from a clutch of investors, including China's Tencent. Founded in 2016, Bengaluru-based Udaan operates across categories, including lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, pharma, toys and general merchandise.
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