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 minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Urs Stalder
Sanitized AG

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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