Urban Company turns unicorn with $188 million boost

Local service provider Urban Company has raised about $188 million Series in F funding round. With this funding the startup joins the unicorn club. The latest funding round led by Prosus has escalated the company’s value to $2 billion in its latest.

The asset is believed to have valued the nearly seven-year-old startup at close to $2 billion, making it the latest entrant to India’s unicorn club. The company has hit a valuation of over $900 million in August 2019 when it raised close to $75 million in a round of funding led by Tiger Global Management.

The company has raised close to $400 million from investors. The latest round also had the participation of DF International Partners, Wellington Management, Tiger Global, Steadview Capital, and Vy Capital.

Prosus led the round with $61.93 Mn (INR 464.53 Cr), while DF International and Wellington Management together infused close to $70 Mn (INR 522). DF International made an investment of $36.86 Mn (INR 275 Cr) and Wellington Management made an investment of $33.2 Mn (INR 248 Cr). The development was first reported by Entrackr, which estimates that the company is valued at $2 Bn (INR 14,615 Cr).