Fidelity, Qualcomm lead Series C round for Bigshoebazaar
Fidelity Growth Partners and Qualcomm Ventures have led a Series C round of funding worth INR1 billion (US$18 million) for Indian online wholesaler Bigshoebazaar. Existing investors Nexus Venture Partners and Catamaran Ventures also participated.
The company, which operates the yehbi.com website, claims to be South Asia's largest online wholesaler of shoes, apparel, bags, accessories and gift items. It supplies 3,000 retailers across India and counts Puma, Nike, Adidas and Levi's Lee among its brand partners.
Manmohan Agarwal, CEO of Bigshoebazaar, said the funding would go towards strengthening the company's customer services capabilities and its supply chain and logistics network. It also plans to move into the mobile commerce space.
Nexus was the sole participant in Bigshoebazaar's first round of funding in 2010, putting in INR100 million. Catamaran led the Series B round last year, committing INR400 million alongside Nexus.
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