Prosus Ventures Co-Leads $87M Series B Financing of Ula

Gunderson Dettmer represented client Prosus Ventures, a venture capital firm investing in internet and technology companies, as it co-led the $87 million Series B financing of Ula, an Indonesian B2B ecommerce marketplace. Prosus Ventures was joined by Tencent and B Capital. The round brings Ula’s total funding to $117.5 million.

In the announcement of the transaction, CEO and co-founder at Ula Nipun Mehra said, “We launched in 2020 with a single-minded mission to empower small, neighborhood retailers with technology to increase their income. We take a long-term approach to solve the underlying problems of traditional retailers by investing in technology, supply chain and data-enabled credit offering.”

The Gunderson deal team was led by Jonathan Pentzien, and included Jolyn Ang, Soo Guo Kai, and Cheryl Lau.

Companies:
Prosus Ventures
Ula