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March 13, 2018

B2B online marketplace Udaan receives series B funding of USD 50 Million from Lightspeed, Apoletto, Bessemer and Stanford endowment

DEAL BRIEF

Udaan, a B2B platform started by former executives at Flipkart has received funding of USD 50,000,000 from Lightspeed Venture Partners and its affiliate entities, Apoletto Limited, Apoletto Investments IV, L.P., Fifth Avenue Private Equity 13 LLC and the Board of Trustees of the Leland Stanford Junior University along with its affiliate entities.

Press coverage relating to this transaction, is available at Livemint, here and at Economic Times, here.

OUR ROLE

We, at Nishith Desai Associates, acted as the Indian legal counsel to Udaan and advised them on the transaction including assistance on the investment documentation.