Home / Knowledge / News / Apparel/Garments / Fashion scrapbooking site LimeRoad raises $45mn in a year
Fashion scrapbooking site LimeRoad raises $45mn in a year
31
Mar '15
Suchi Mukherjee
Suchi Mukherjee
Following rapid growth in community engagement, scrapbook creation and revenue growth, social discovery platform for women, LimeRoad said it has raised a Series C funding.

This new financing ramps up the total funds raised to $45 million in the past year and is within ten months of its Series B financing.

“Tiger Global Management, an existing investor, leads the new round with participation from existing investors Lightspeed Venture Partners and Matrix Partners India,” LimeRoad said in a press release.

Over the last year, LimeRoad has been steadily nurturing a community that takes products from thousands of sellers and shows users how to transform even the most basic white t-shirt into a style statement.

According to LimeRoad, the community posted more than 1.5 million style statements as ‘scrapbooks’ in the last month alone, with per day postings reaching over 100,000 and in the process achieving 100 per cent growth in less than a year.

Komal, a graphic design student in Delhi who has made 800 ‘scrapbooks’ says it is transformational and adds, “scrapbooking on LimeRoad makes me feel ultra stylish and it is a daily routine that is a release after a hard day.”

Suchi Mukherjee, co-founder said, “We are revolutionising the way lifestyle products are discovered and ultimately bought in India, and in doing so, we are changing social order.”

“Smaller unique sellers are getting discovered, women from across the country are using scrapbooks as a medium of style expression, and millions of users are getting access to highly affordable and unique style,” she added.

“We grew GMV 600 per cent in the last 12 months, thanks to our passionate users who visited our app on average more than 38 times in the last six months,” she informed.

“That’s a delightful 76 times a year! As a result 80-85 per cent of our orders come from organic traffic,” Mukherjee noted.

Lee Fixel, partner, Tiger Global said, “The uniqueness of LimeRoad lies in the passionate user base and the mission of providing an engaging platform for smaller brands to thrive.”

“We love this approach and are investing behind it and behind the team executing the strategy,” he too added by saying.

Bejul Somaia, managing director, Lightspeed Advisory said, “We continue to be highly supportive of LimeRoad.”

“This is a truly exceptional team that has already disproved many accepted notions in Indian online commerce as a result of which they are showing extraordinary organic traction,” he too observed.

Avnish Bajaj, MD at Matrix India, said, “The LimeRoad team is a unique combination of a crystal clear vision combined with sheer execution prowess. We continue to be amazed by their sheer passion, sharp thinking and their core engagement metrics.”

LimeRoad hosts an incredible width of brands and stores, and offers consumers tools to curate and share collections, referred to as scrapbooks.

The platform covers apparel, accessories including footwear and bags, as well as home and living.

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

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani
Occasions Elegance Wear

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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