Exclusively.in Raises $16 Mn In Series B Funding
Exclusively.in, an online private sales site selling Indian fashion, jewellery and home decor products to customers in US, has raised $16 Mn in a Series-B funding round led by Tiger Global Management, with participation from existing investors, Accel Partners India and Helion Venture Partners.
It had previously raised $2.8 Mn from Accel Partners and Helion Venture Partners in November 2010.
Launched in June 2010 by Sunjay Guleria, Exclusively.in intends to use the funding for new market expansion, optimization of its merchandising mix, further growth of customer base, and for hiring.
Exclusively.in also announced its official launch in the UK and plans to launch in other markets including Canada and India in the coming months. Currently, Exclusively.in sends its products from India to US and now in UK.
Transaction Reference: Medianama
The portal features high-end traditional Indian apparel as well as scarves, jewelry, handbags, crafts, paintings, photography and other home goods made by Indian designers. Since launch, it has featured more than 250 Indian designers since then.
The company had recently launched a wedding boutique on its website, offering wedding attire sales from Indian designers such as Manish Malhotra, Tarun Tahiliani, Manish Arora, Ritu Kumar and Payal Singhal. It had also set-up an Indian fashion pop-up store in Manhattan (NY), for a flash sale.
It uses Facebook, Twitter and a deals newsletter to keep users updated about items on sale.
In March, Tiger Global along with IDG Venturesand IndoUS Venture Partners invested in Myntra.com.
Last month, Accel Partners and Tiger Global invested $2.5 Mn in Mumbai-based Nest Childcare Services Private Limited, which runs BabyOye.com, an online baby products store.
Helion is an investor in Nasdaq-listed MakeMyTrip and has also invested in in Redbus.in, a bus ticketing company.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 27/05/11 | Exclusively.in - Tiger Global, Accel, Helion | Venture Capital | Helion Venture Partners | 16.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/05/12 | Private Equity | Looking For | Prizm Payment Services Private Limited | 92.18 | Planned |
| 17/05/12 | M&A | Carzonrent India Private Limited | QCABS | - | Announced |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | Chakpak Media Private Limited | - | Completed |
| 17/05/12 | M&A | Trivone Digital Services Private Limited | WheelsUnplugged.com | - | Completed |
Fund |
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| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| Helion Venture Partners | 350 | IT/ITES/Technology Outsourcing Services Cleantech |
http://www.helionvc.com/ | Sam BhaumikR NatarajanAshwin Heerdaye JugbandhanDourvesh (Vikas) KumarAshish GuptaKanwaljit SinghSanjeev AggarwalRahul Chandra |
| Tiger Global Management LLC | Media Real Estate Telecom Energy IT/ITES/Technology |
Lee FixelNeeraj Chandra | ||
| Accel Partners | IT/ITES/Technology Media |
www.accel.com | Anand DanielPrateek DhawanNerraj BhardawajPradip Kumar MajumdarPrashanth PrakashAbhishek GoyalVijaysai PatnaikPradip Kumar MajumdarGagan KumarSubrata MitraPrashanth PrakashAnand DanielAbhishek GoyalNeeraj BharadwajPrateek DhawanVijaysai PatnaikRajaram GaunkerPrayank SwaroopVinod KumarBarath Shankar Subramanian | |
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