Udaan, B2B e-commerce marketplace, has reported in a regulatory filing that it has raised US $300 million from Silicon Valley fund Altimeter Capital, GGV Capital and existing investors DST Global and Lightspeed Venture Partners, among others.
The company’s estimated valuation is US $ 2.2 billion, double of the valuation during its previous financial round, and its annual GMV is estimated to be US $ 1.2 billion.
And this round of funding can increase further!
It can actually extend to US $ 500 million with China’s Tencent showing interest in investing in the company. The parent company of Udaan, Trustroot Internet has revealed that it has made share allotment to investors including Hillhouse Capital and Footpath Ventures.
This round of funding will be finalised by the end of August. Previously, Udaan had raised US $ 225 million led by DST Global and Lightspeed Venture Partners.
The company offers services including credit, logistics, software, marketing, sales, and distribution.
