Exclusively.In raises $2.8 Million from Bangalore-based VCs

By siliconindia   |   Friday, 05 November 2010, 13:11 IST
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New Delhi: Exclusively.In has raised $2.8 million round of institutional and angel funding from two Bangalore-based venture capitalists Accel Partners India and Helion Venture Partners to expand its technology platform and consumer markets. Exclusively.In is an e-commerce portal for bring Indian-infused fashion, jewelry and home decor to a global audience. Exclusively.In is claimed to be one of the first to bring luxury ethnic fashion and lifestyle products to the U.S. via the members-only, private-sale format. "We're bringing the highest level of Indian design and workmanship to the world, which was previously only accessible to a select few who could visit India multiple times a year," said Exclusively.In Co-Founder and CEO Sunjay Guleria. "We've created our own 'passage to India', connecting the global fashion consumer with Indian fashion in a simple, fun and intuitive online shopping experience", Guleria added. The site's subscriber base is growing at a rapid pace, and over 65 percent of its members make repeat purchases. Currently Exclusively.In ships orders directly from Delhi to the customers in the U.S. It also has plans to expand to Canada, the U.K. and India in early 2011. "Exclusively.In has the potential to disrupt a massive market of global ethnic retail and in them we see some of the early traits of success that mirror our other global social commerce investments," said Prashanth Prakash, Partner at Accel India. Helion is an investor in MakeMyTrip, besides having invested in Redbus, a bus ticketing company. On the other hand, Accel India is an early investor in Flipkart, which has expanded its business from books to sales of products such as mobiles and DVDs.