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April - 2015 - issue > Venture Beat

LimeRoad.com Raises $30 Million in Series C led by Tiger Global Management

si Team
Wednesday, April 8, 2015
si Team
Gurgaon based online shopping platform for women's fashion and home furnishings, LimeRoad.com raised $30 million in Series C round led by Tiger Global Management. The funding round also witnessed Matrix Partners and Lightspeed Venture Partners. The platform looks forward to use the fund in upgrading, scaling and building on the platform. The company had raised its Series A funding of $5 million in 2012 and Series B funding of $15 million in May last year from the same investors.

LimeRoad was founded by industry visionaries, Suchi Mukherjee, Manish Saksena, Ankush Mehra and Prashant Malik in 2012. Being one of the nurturing hyperactive communities, the company aims to bring the best products from thousands of sellers to help people to own their best favorites. The platform also allows them to create 'scrapbooks' of their ideas and share their experiences with others while shopping. Powered by machine algorithms, the platform displays the highest quality scrapbooks for users to find products and styles.

The social discovery platform posted more than 1.5 million style statements last month as scrapbooks where users can also purchase standalone products or the entire look from the catalogue created by other users. In 2013, the social commerce startup kick-started an initiative called 'create and earn', which allowed users to earn money from their scrapbooks. The company has also launched an Android app in May 2014. LimeRoad's gross merchandise value (GMV) has grown seven times in the last 12 months and app usage has grown more than 38 times in the last six months.

wWhere Raises a Seed Funding of around $2 Million From International Angel Investors

Ahmedabad-based start-up wWhere raises a seed funding of $2 million from international angel investors across U.S., India and Singapore. The round of funding also witnessed participation from a group of angels led by Ashim Mehra, VP at Baron Capital – a New York based venture finance firm and Anunay Gupta, Co-Founder of Marketelligent – a leading company in advanced analytics.

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