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India's LimeRoad raises $30m Series C round

  • Andrew Woodman
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Tiger Global has led a $30 million Series C round of funding for India LimeRoad, an online social discovery platform aimed at women. Lightspeed Venture Partners and Matrix Partners India also took part in the round.

The investment comes around 10 months after LimeRoad raised a $15 million Series B round led by Tiger Global. Lightspeed and Matrix are also return investors having provided the $5 million in Series A round in 2012.

LimeRoad was set up in 2012 by Suchi Mukherjee, Prashant Malik and Ankush Mehra, who variously held leadership roles at companies such as as eBay, Skype, Facebook, Samsung and Reliance Hypermarkets.

The site - which launched within a month of raising its first institutional round - allows visitors to shop for a range of apparel, accessories, home and food items via a magazine-style interface whereby links to items can be shared through social networks.

According to a release, the site sees more than 100,000 posts a day, with around 1.5 million so-called "scrapbooks" creating in the last month.

Other start-ups operating in India's online social discovery space include Roposo, which raised a $5 million Series A round of funding also led by Tiger Global this week, and Dootzon, which was acquired by VC-backed e-commerce giant Snapdeal last year.

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