Indian e-commerce marketplace ShopClues gets a $10 million injection

Indian e-commerce marketplace ShopClues gets a $10 million injection

Gurgaon, India-based e-commerce startup ShopClues.com has scored approximately $10 million in fresh funding from Helion Venture Partners, Nexus Ventures and Netprice.com CEO Teruhide Sato.

Founded in July 2011 – in Silicon Valley no less, by a former Wall Street analyst – ShopClues.com operates a ‘managed’ online marketplace that acts as a shopping facilitator rather than an actual retailer.

So. Much. Tech.

Some of the biggest names in tech are coming to TNW Conference in Amsterdam this May.

This basically means the company doesn’t keep inventory but operates a platform for merchants to sell directly to consumers. It says it currently offers more than 250,000 products across more than 550 categories.

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The company claims more than 4 million people visit its online marketplace every month, and that it has served nearly 7,800 cities, towns and villages across India to date.

According to a report in The Economic Times, the funding will be used to expand ShopClues.com to even more places.

Prior to this financing round, ShopClues had raised about $15 million.

Top image credit: Thinkstock

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Shh. Here's some distraction

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