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February 7, 2017

Investment in Udaan by Lightspeed Venture Partners

DEAL BRIEF

Udaan, a B2B platform started by former executives at Flipkart has received funding of USD 10 million by Lightspeed Venture Partners. Mr. Sujeet Kumar, Mr. Vaibhav Gupta and Mr. Amod Malviya, founders of Udaan, have each been instrumental in Flipkart’s growth and success during its early days.

Press coverage relating to this transaction, is available at (Economic Times), (Live Mint).

OUR ROLE

We, at Nishith Desai Associates, acted as legal and tax counsels to Udaan and advised them on the legal, tax, regulatory and strategic aspects of setting up and structuring of the business and operations as well as on the investment documentation.