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Udaan’s parent infuses Rs 139 cr in the e-commerce company

Hiveloop technology which operates and owns a B2B online marketplace Udaan, has now received fresh funding from its Singapore based parent company, TrustRoot internet Pte, which makes the total funding for the youngest unicorn startup to around INR 400 crore in the past five months.

TrustRoot has made a capital infusion of around INR 139.5 crore into the Bangalore based company, according to the documents which have been filed by the company with the Registrar of the companies and accessed by the business signals provider.

According to the report which has been revealed, TrustRoot has been allotted around 205616 Series D funding round of convertible shares on the 6th of May, having paid a premium of around INR 6774.49 per share.

Udaan raised a $225 Million equity funding round in the month of September last year led by the two of its existing investors – LightSpeed Venture and DST Global partners.

Source: Udaan



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