Home / Knowledge / News / Apparel/Garments / 'Shopclues worth $1.1 bn after latest GIC funding'
'Shopclues worth $1.1 bn after latest GIC funding'
15
Jan '16
Online retailer Shopclues estimates it is valued at more than $1.1 billion after raising over $100 million in Series E round, led by GIC, the largest sovereign wealth fund of Singapore, which it said was its last before a public share listing next year.

Existing investors including New York-based hedge fund Tiger Global Management and Nexus Venture Partners participated in this round of funding.

With the latest round of funding, Shopclues has become another Indian e-commerce company to become a unicorn after companies like Ola, Snapdeal, Flipkart and Paytm. The company is aiming to hit $1 billion GMV by the end of this fiscal.

Shopclues said its gross merchandise value (GMV) has grown over four times since January 2015, and that it ships more than 3.5 million items every month.

The company was founded in 2011 by former Wall Street analyst Sandeep Aggarwal, ex-eBay executive Sanjay Sethi and Nordstorm executive Radhika Ghai Aggarwal. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X