Udaan raises $280 milion in funding from Lightspeed Venture Partners, Tencent, others

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Business-to-business (B2B) e-commerce major Udaan on Wednesday said it has raised $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 $ 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 $585 million in series D funding round in October 2019 from a clutch of investors, including China’s Tencent.              

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