Akshata Sharma
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Bengaluru-based VC firm Dharana Capital has invested INR 400 Cr (about $50 Mn) in hyperlocal services startup Urban Company through a secondary transaction
The investor said that it bought shares from employees and other shareholders of Urban Company, making it the largest ESOP liquidity in the startup's history.
As per the terms of the agreement, Vamsi Duvvuri, founder and managing partner of Dharana Capital, will join Urban Company's board as a non-executive Director.
Meanwhile, Abhiraj Singh Bhal, cofounder and CEO of Urban Company said, "We are very excited to partner with Dharana Capital and have Vamsi Duvvuri join our Board of Directors. Vamsi has been a strong partner to Urban Company for a long time, and we look forward to working with him even more closely in the future."
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