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 has scored approximately $10 million in fresh funding from Helion Venture Partners, Nexus Ventures and CEO Teruhide Sato.

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

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.


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 to even more places.

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

Top image credit: Thinkstock

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