Link Legal India Law Services represented Lightspeed Venture Partners and DST Global in their USD 225 million investment in Udaan. The post money valuation of Udaan after this round is above USD 1 billion (a benchmark for unicorn status).

Udaan is the fastest start-up to become an unicorn - both in terms of time taken from incorporation (26 months) and number of funding rounds (3).  

Udaan, was founded by three former senior executives of Flipkart and is engaged in the B2B e-commerce space. Udaan’s business model of providing a B2B ecommerce platform for manufacturers to sell directly to shop owners and merchants is seeing increasing competition from the likes of Amazon Business, Metro Cash & Carry, Walmart and Alibaba. Reliance Industries, too, is expected to enter the segment. As per Economic Times, the market for B2B ecommerce is estimated by industry to reach $700 billion by 2020, much higher than the $50-100 billion estimate for consumer-facing online retail in the same period. 

The Link Legal team for this round comprised of Manish Gupta (Partner), Pratyush Khurana (Principal Associate), Sanya Haider (Senior Associate), Ashish Ahluwalia (Associate), Disha Toshniwal (Associate) and Rashi Singh (Associate).