Silicon Valley-based venture capital firm Lightspeed Venture Partners has invested $10m in Hiveloop Technology, which provides a B2B e-commerce marketplace platform under the brand ‘Udaan’. The company is founded by three former top executives of Flipkart, namely Sujeet Kumar, who led WS Retail at Flipkart, Amod Malviya, ex-CTO of Flipkart, and Vaibhav Gupta, former Senior VP who was leading product management and finance functions at Flipkart.

The three founders have also invested $1.5 million in the startup as a part of its seed round. Read more about the deal at Mint.

Link Legal India Law Services advised its client Lightspeed, led by Delhi partner Manish Gupta, associates Suraj Meher, Ashish Ahluwalia and Abhishek Dwivedi.

The company and its founders were represented Nishith Desai Associates Bangalore partner Vaibhav Parikh and M&A practice head Karan Kalra and associate Poonam Sharma.