AVCJ

Helion, Nexus commit $10m to Indian e-commerce player ShopClues

  • Andrew Woodman
  • LinkedIn  
  • Google plus  
  • Save this article  

Helion Venture Partners and Nexus Venture Partners have invested INR540 million ($10 million) in e-commerce firm Shopclue.com. Netprice.com CEO Teruhide Sato also participated in the funding round.

According to The Economic Times, a total of INR810 million has been invested in the company to date, with INR200 million contributed by Nexus in an earlier round.

Founded by former Wall Street analyst Sandeep Agarwal with three e-commerce professionals in 2011, Shopclue.com helps third-party merchants sell goods online at a low transaction cost. The promoters hold a majority stake in the company which is expected to reach INR1.2 billion in sales by the end of the current fiscal year.

"The investment by these investors is a reflection of the confidence in the business model that has already demonstrated a robust growth in the past 15 months," said Agarwal. ''We do not pay sales tax, rather we pay service tax as ShopClues is not a retailer and does not buy from manufacturers as we are the facilitator and not the retailer."

According to AVCJ Research, more than $261 million was invested in India's e-commerce sector last year through 44 deals.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Consumer

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs