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Indian online marketplace Udaan secures $373.5M in series D round

India-based business-to-business online marketplace Udaan has obtained $373.5 million thus far from new and current investors in an ongoing series D financing round, Livemint reported, citing Singapore regulatory filings sourced from data intelligence platform Paper.vc.

Altimeter Capital Management LP, GGV Capital and Hillhouse Capital Management Ltd. participated in the round, alongside existing backers DST Global and Lightspeed Venture Partners.

Udaan has been in discussions with several investors including SoftBank Group Corp. and Tiger Global Management LLC over the past several months, but the talks have not resulted in a deal, according to the report.

The company secured about $223.6 million in a series C round in September 2018, according to S&P Global Market Intelligence data.