Comments
E-commerce platform ShopClues.com has completed its third round of funding. The company raised close to $10 million (Rs 54 crore) from Helion Venture Partners and Nexus Venture Partners. The latter had previously led the Series A investment in the company in February 2012.
With this round, ShopClues has raised over $15 million in capital so far. Anup Gupta from Nexus had joined the board last year, which has now expanded with Sanjeev Aggarwal from Helion.
ShopClues has a line up of investors. Series B investors include top venture capital firms — Helion and Nexus and a leading Japanese Internet company. In February 2012, the company had raised Series A from Nexus, and the founder of one of the largest marketplaces in the world.
Prior to Series A, ShopClues had raised a round (in August 2011) from marquee angels including early employees of companies like Google, Netscape and many serial entrepreneurs from Silicon Valley.
“Even as online retail comes of age in India with over 10 million users, there are several small and medium businesses (SMB) in the country that struggle to garner a toe hold. This is what we want to address. At least a third of the 30 million SMBs will benefit from the visibility and marketplace on offer,” says Sandeep Aggarwal, Founder and CEO of ShopClues.
The e-commerce platform connects buyers and sellers online, with the firm serving nearly 9,000 cities across India.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.