India-based Hiveloop Technology, which operates business-to-business (B2B) e-commerce platform Udaan, has raised a US$50 million Series B round led by existing investor Lightspeed Venture Partners and new investor Yuri Milner, who invested through his Apoletto Fund. Lightspeed reportedly invested between US$30 million and US$35 million while Yuri Milner accounted for the remainder. Udaan plans to use the funds to upgrade its technology platform, back-end and logistics infrastructure.