Udaan, a business to business (B2B) trading platform, has received $585 million in its new financing round.
The new funding secured support from Tencent, Altimeter Capital, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures.
Existing backers including Lightspeed Venture Partners and DST Global also joined the round, which has valued Udaan at $2.5 billion to 3 billion.
Udaan intends to use the net proceeds from the funding round to deepen its presence across India and add new product categories.