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Udaan receives Rs 34.42 Cr from Singapore-based holding entity


Hiveloop Technology, which owns and operates B2B e-commerce platform Udaan, has received Rs 34.42 crore from Singapore-based holding entity – Trustroot by issuing 50,114 Series D CCPPS at a premium of Rs 6860.33 per share.

The fresh share allotment comes just after two months when Udaan had picked up Rs 139.5 crore from Trustroot. Valued at over $1 billion, Udaan’s last equity funding came in September 2018, when it had raised $225 million round led by existing investors — DST Global and Lightspeed Venture Partners. (Source: MCA)

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