Urban company turns unicorn, valued at $2 billion – News 24-7 Live News 24-7 Live

Urban company turns unicorn, valued at $2 billion

Urban Company has raised a fresh $188 million (Rs 1,410.16 crore) in funding from a clutch of investors led by Prosus Ventures (formerly Naspers), according to the company’s filings with the RoC sourced from business intelligence platform Tofler.

The investment is understood to have valued the nearly seven-year old start-up at close to $2 billion, making it the latest entrant to India’s uniorn club.

The firm’s revenue from operations increased to Rs 218.64 crore in FY20 on a consolidated basis from Rs 108.96 crore in FY19. Total losses shot up to Rs 155.17 crore in FY20 from Rs 78.48 crore in the previous year.

News Source: financialexpress

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