Udaan E-Commerce Startup Raises $280 Million From Tencent, Others

[ad_1] Udaan, a homegrown business-to-business e-commerce startup, has raised $280 million (roughly Rs. 2,046 crores), it stated Wednesday, because it seeks to serve extra mom-and-pop companies which can be shopping for merchandise on-line within the wake of the COVID-19 pandemic. Udaan stated current traders together with Chinese tech big Tencent , Lightspeed Venture Partners , DST Global, GGV Capital, and Altimeter Capital participated within the fundraising, together with new traders - Octahedron Capital and Moonstone Capital. The Bengaluru-based agency, based in 2016, is now valued at greater than $3 billion (roughly Rs. 21,920 crores), an individual accustomed to the matter stated. A consultant for Udaan declined to touch upon its valuation. " COVID-19 has accelerated the already fast digital-led evolution of highly fragmented and unorganised Indian trade/ retail industry," Udaan co-founder Amod Malviya stated in a press release . “While at the same time, the pandemic also high…

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