Lightspeed Venture Partners

FJ Labs, Panthera Peak Capital, and select angels also participated

At a time when large investors have reduced their investments in India as the funding winter persists, venture capital firm Lightspeed is betting big on the country

The Lightspeed Venture and Microsoft-backed unicorn had shipped 260 million products, catering to around 50 million orders in 2021 -- which was hugely impacted by the pandemic

The new appointments are part of building the magicpin organisation as it prepares for its next phase of growth, and span product, marketing, technology and operations

This is part of the $7 billion that the fund house has raised

Wheelocity will use the fund to build new products, expand its customer base and improve its fruits and vegetables supply chain

The global $7-bn fund-raise brings its total capital under management to over $18 bn

Lightspeed is the second PE fund approached by Metro AG, apart from Samara Capital, say sources

Company registered over 40 million downloads and 3 billion monthly listening minutes since its launch in 2018

Lio is used for a variety of tabulation, calculation and organising needs, such as creating tables of customer/stock/payment data for businesses or organising to-do lists

While India's B2B agri market is attractive at $300 billion, it is also a complex maze of fragmented supply with over 120 million farmers growing across 30 states

January 2021 recorded three large deals worth $680 mn compared to five large deals worth $1.4 bn in January 2019 and 12 large deals worth $6 bn in December 2020

The B2B e-commerce startup, backed by investors such as Lightspeed, DST Global and Tencent, plans to further increase warehousing capacity equal to around 875 football fields

Founded by Nitin Gupta, former CEO of PayU India and Ola Financial Services, Uni aims to bridge the gap for credit cards and make them become more accessible for consumers across different regions.

The other investors include DCM Shriram Promoters Family and SAIF Partners

The latest funds will be used to drive growth for ShareChat's short-video app Moj, the company said in a statement, a platform which is similar to TikTok

Lightspeed Venture Partners leads round, with participation from existing investors Vertex Ventures, Nexus Venture Partners, Strive VC and SAP.iO Fund

Udaan said it enables small manufacturers, farmers, mills, and brands to sell their products across the country at low costs, with 100 per cent payment security and transparency

This will be the best exit in India in terms of returns

Agarwal's stake in the company will rise from the current 9-10% to around 30%