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Yebhi.com, the rebranded version of e-commerce store Bigshoebazaar, said it has raised Rs 100 crore of funding from Fidelity Growth Partners India and Qualcomm Ventures.
This is its third round of funding. In 2010, the company had raised Rs 10 crore from Nexus Venture Partners followed by a second round of funding of Rs 40 crore in 2011 led by Catamaran Ventures.
Yebhi supplies shoes, apparels, lifestyle accessories, jewellery, mobiles, electronics, kitchenware and homeware across a variety of brands through an online catalogue.
“Our investment in Big Shoe Bazaar has come at a time when the rapid rise of smartphones, tablets and social media networks stands to influence the way people engage in online shopping,” said Mr Karthee Madasamy, Senior Director, Qualcomm Ventures, India and Israel. Mr Manmohan Agarwal, CEO, Big Shoe Bazaar India, said, “Yebhi.com has pioneered mass market ecommerce in India and has taken significant first mover advantage in this large segment. Big Shoe Bazaar’s fulfilment centre, efficiencies in our supply chain and logistics network are key to supporting Yebhi.com’s customer connect. Our Series C round of investments will further strengthen these core initiatives.”
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