Tiger Global Invests $15 Million Round in LimeRoad to Enhance Fashion Trends of Women Clothing in India
Tiger Global is one of the keenest supporters of the Indian e-commerce story, investing in Flipkart and Myntra for over years
Gurgaon, India -- (SBWire) -- 06/17/2014 --Tiger Global invests $15 million round in LimeRoad to enhance the fashion trends of women clothing in India and to promote their mission of social discovery for buying platform in the lifestyle vertical. Tiger Global being one of the keenest supporters of the Indian e-commerce story, investing in Flipkart and Myntra for over years. Their support has favoured a big hand for LimeRoad, a young company by providing an opportunity of growing online business in India.
LimeRoad holds lifestyle and trendy products from a network of renowned brands and stores to provide customers an ease to shop online in a much better way. Their unique and delightful products set them apart in the world of online shopping. If the quality products continued the same way, LimeRoad will see more investors like Matrix India and Light speed Venture Partners participating in the second round of funding. Matrix and Light speed had invested $5 million in LimeRoad in 2012.
According to the estimates by venture fund Accel Partners, Indian women powered e-tail cost over half a billion dollars last year with the figure expected to swell five-fold to $3 billion in the next three years. Suchi Mukherjee, founder and CEO of LimeRoad mentions some facts about the investments company has made, “As much as 90% of the website's products and looks were currently user-generated. Our mobile traffic, most of which is organic, is growing at 45% month-on-month as we launch our new mobile app.”
She further added, “We have a clear focus on bringing smaller, unknown vendors onto our platform. In fact, half of the brands we retail are not found offline.”The company functions on a marketplace model and is not inventory led.
LimeRoad is a social-commerce platform targeted at the intelligent woman of today. They are a one stop destination for a fun and exciting way to discover, share and shop. They have an incredible range of carefully selected merchandise, enabling customers to discover the best of lifestyle products across the categories like online women accessories, apparel, home and non-perishable food. They give shoppers a chance to create their space, to tap into those hidden talents and make personal looks and collections and share with friends for second opinion, to inspire or be inspired; and to help them shop in a way that they will find mesmerizing.
To know more about their offerings, please visit: http://www.limeroad.com
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