According to a recent report, there will be 237 million internet users in India by 2015. With the increased penetration of internet and increasingly busy lifestyles, companies are betting heavily on e-commerce. Recent years have seen scores of e-commerce portals mushroom in India. Not withstanding the expected hyper-competition in the e-commerce space, investors are still interested in funding such ventures. Here is the list of some recent investments done in the e-commerce space:
Pepperfry: Norwest Venture Partners have invested $5 million in yet-to-be-launched PepperFry. PepperFry is proposed to be a portal for pocket friendly deals on lifestyle products such as clothing, furniture & home decor, precious & fashion jewellery, lifestyle accessories and personal care.
Fetise.com: Mumbai based fetise.com has secured a $5 million funding from Seedfund. Fetise is an e-commerce portal for men and deals in apparels, shoes and fashion accessories from leading international labels.
Freecultr: Sequoia Capital has invested $4Mn in apparel and accessories e-commerce startup FreeCultr. FreeCultr provides lifestyle apparel and accessories featuring casual T-shirts, polos, tunics, sweaters, cardigans, denims, pants and footwears.
Zovi.com: Deep Kalra (founder of MakeMyTrip) invested $5.5 million in Zovi.com, another online apparel retail portal.
Fashionandyou.com: FashionAndYou raised $40Mn in it’s third round of funding led by Norwest Venture Partners and Intel Capital. In a related exercise, DealsandYou.com, Fashionandyou.com’s sisteer concern and founded by Harish Bahl raised $17Mn Mayfield Fund and Norwest Venture Partners.
Valyoo Technologies: IDG Ventures has invested $4Mn in Valyoo Technologies Pvt Ltd, which runs e-commerce businesses for eyewear (lenskart.com), watches (watchkart.com) and bags (bagskart.com). The firm is looking at raising another $20Mn in it’s next round of funding by February or March next year.
eShakti.com: IDG Ventures has invested $3Mn in online fashion retailer – eShakti.com Pvt Ltd for a minority stake. Presently, Chennai based eShakti exports custom made desinger clothes to the US and is in the process of launching the firm’s Indian brand Zapelle. The company will add accessories including belts, bags and jewellery to it’s product line in the next six months.
Some of the recent recipients of investments have been online portals selling baby care products. Recently hoopos.com has secured investment from Helion Venture Parnters. Babyoye.com also raised $2.5 million from Accel Partners and Tiger Global. Firstcry.com raised $4 million from SAIF Partners this April.
*The data has been sourced from Deal Curry.