Companies

LimeRoad raises $15 mn from Tiger Global

Our Bureau Mumbai | Updated on March 12, 2018 Published on May 06, 2014

Suchi Mukherjee, Founder and CEO of LimeRoad.com, with Manish Saksena, Co-founder and President, at the launch in Hyderabad. File Photo: P.V. Sivakumar

Online fashion portal LimeRoad has raised $15 million in the second round from New York-based Tiger Global, which also has investments in ecommerce giants Flipkart and Myntra.

Existing investors Matrix India and Lightspeed Venture Partners also participated in this round of funding.

Founded by Suchi Mukherjee in 2012, LimeRoad is a women-focused fashion portal inspired by US-based community-powered social commerce platform Polyvore.

The investment will help LimeRoad accelerate towards its mission of becoming the 'most delightful lifestyle discovery platform for women in the country', and comes on the back of LimeRoad’s launch of its Android mobile app, the company said in a statement.

“We are revolutionising the way lifestyle products are discovered and ultimately bought online in India, and are delighted to work with investor partners who share our hunger for winning and are supporters of our disruptive model to get there," said Suchi Mukherjee.

India accounts for 20 per cent of the world’s manufacturing of lifestyle products and the company feels that conquering the discoverability of that wide array, needs new thinking and a fresh socially-architected approach.

"About 90 percent of our 1,50,000+ products and looks are unique and user-generated, and this is growing 30-40 per cent per month. On average the community of LimeRoad users generate 3x more actions and page views per session on our platform versus any other alternative available to them in this market," Mukherjee added.

“Our mobile traffic, most of which is organic, is growing at 45% month-on-month. With that as backdrop, we are today launching our Android Mobile App. We architected this App to be simple, addictive, with style updates every 30 seconds, and have made it the lightest app in its segment to address the hardware constraints of Indian users,” added Prashant Malik, co-founder & CTO.

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Published on May 06, 2014
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