Business to business e-commerce stage OfBusiness has raised a new round from SoftBank Vision Fund II and existing investor Alpha Wave Incubation. This is the second investment round for the Gurugram-based startup in 2021 which scooped up $110 million in a round led by Alpha Wave in April.

OfBusiness has allotted 41,675 of Series E CCPS at a face value of Rs 10 and a premium of Rs 28,3585.11 per share to raise Rs 1,181.85 crore or $160 million, regulatory filings show. SoftBank has spearheaded the round with an investment of $151 million whereas Alpha Wave invested the remaining.

OfBusiness was reportedly in converses with SoftBank to raise a new round at around $1.5 billion valuation. As indicated by Fintrackr’s estimates, the Asish Mohapatra-led organization has reached the post-money valuation of $1.57 billion or Rs 11,700 crore.

This essentially means that OfBusiness’ valuation has jumped two-overlap inside four months. It was valued at around $800 million during the $110 million Series D2 round in April.

Following the exchange, Softbank has acquired 9.62% stake in the organization while Alpha Wave has increased its stake to 10.62%. Meanwhile, prime supporters have diluted their collective property from 28.58% to 25.68%.

The fresh round likewise makes OfBusiness the eighteenth startup that has turned into a unicorn in 2021. Earlier this week Droom claimed that it reached a valuation of $1.2 billion as the Singapore registered organization kicked off a new round. Last week, coordinations organization BlackBuck likewise raised a fresh round and entered the coveted club of unicorns.

Out of 18 unicorns, seven new companies that became unicorns this year are in the B2B business. The rundown includes OfBusiness, BlackBuck, Browserstack, Moglix, Zetwerk, Zeta and Infra.Market.

Seven-year-old OfBusiness helps source crude material and provides companies with an entrance to offer for government tenders. It likewise provides collateral-free advances of up to Rs 2 crore to merchants. As indicated by the organization’s website, it works with Godrej, Zomato and Reliance Industries to ease the process of the agri-item inventory network and has more than 5,000 clients and over 2,000 suppliers on the stage.

Last month, OfBusiness likewise expanded its employee stock ownership plan or ESOP to take the complete ESOP pool size to Rs 282 crore or $38.5 million. Entrackr had exclusively reported the development on June 15.

This is SoftBank’s 6th investment in 2021. Last Week, the Japan-based investor had co-led a $1.25 billion round in foodtech major Swiggy. E-commerce marketplace Flipkart, social commerce stage Meesho, new age banking tech organization Zeta and advanced reception arrangements provider Whatfix have additionally raised assets from Vision Fund II since January 2021.