Bangalore: LimeRoad, an online social platform for women to discover, share and shop for lifestyle products, has raised $5 million as part of its first round funding from Matrix and Lightspeed Venture Partners. The Gurgaon based startup is now aiming to become the unmatched online destination for women to find gorgeous yet affordable products.

Founded by Suchi Mukherjee with Manish Saksena and Ankush Mehra, LimeRoad allows one to shop-by-city, shop-by-brand, or shop-by-flagship store, where one can browse and connect with shops, brands and retailers of your choice. The site offers an interesting feature - scrapbook, which enables users to drag-and-drop products from the website and create a whole look or collect items that they may find interesting.

Following the launch of a focused seed investment programme in July, this is the second seed stage investment for Matrix Partners India after Twist Mobile. Lightspeed Venture Partners had invested in Craftsvilla and Fashionara prior to this.

In this space, Accentium Web acquired SitaGita Com Limited, which operates women community portal sitagita.com.