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This article was published on March 15, 2013

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

    Indian e-commerce marketplace ShopClues gets a $10 million injection Image by: Artist/photographer
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    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.

    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