LimeRoad – the popular social commerce platform run by Gurgaon based A.M. Marketplaces Pvt Ltd has successfully raised $ 30 million in its Series C round of funding. This round of funding was essentially driven by Tiger Global along with investments from Lightspeed Venture Partners and Matrix Partners India.
All the above mentioned venture capital firms are returning investors who took part in LimeRoad’s $15 million fund raising in the B Series of fund raising round. The total venture capital funding in the startup now stands at $50 million.
The start-up which was founded by Suchi Mukherjee is an online social platform for women to discover, share and shop lifestyle products. LimeRoad provides its customers the best collection of apparels, accessories, bags, footwear along with home & kitchen décor and furnishing items. As per the founders of the online store their main focus is on the female demographics, and their plans and strategies are driven towards bringing the best products to them at the best possible prices.
Committed towards craving a unique identity of its own and staying ahead of the competition, LimeRoad is making most of the user-generated content which it gets from its consumers. According to one of its investors Tiger Global, the passionate user base of LimeRoad and its mission of providing an engaging platform for smaller brands to thrive is what make LimeRoad unique from other start-ups.
One of the best examples of customer engagement is the “Scrapbook” section of LimeRoad. Here consumers create various “looks” by combing clothing items and accessories. This February, LimeRoad’s consumers created 1.5 million looks which is an increase of over 100 times from 10 months earlier. This not only explains the level of user/ consumer-engagement but also accounts for the 80-85 percent of firm’s orders which come from organic traffic.
The online retail market in India is of late seeing a lot of action. According to a research conducted by Morgan Stanley, the Indian online retail market is expected to cross the $100 billion threshold by the end of the decade with fashion accounting for at least 30 percent of the total share. LimeRoad hopes to be a very active part of this expansion of the online retail market and is diligently taking all the steps needed to be part of the online retail revolution.
Apart from LimeRoad, there are several other start-ups which are actively involved in attracting investments. For example this year saw start-ups like VioletStreet.com, TinyOwl, LocalBaniya among many others – all catering to various business verticals – raise funds and promise a better future for the online retail market in India.
LimeRoad is one of the most popular online fashion stores. If you are looking for a store which will help you add an edge to your style statement and lifestyle – then LimeRoad is the best choice for you. Shop for the latest fashionable products here and do not forget to use LimeRoad coupons and LimeRoad discount codes from DiscountMantra – India’s best store for online coupons and offers to save on your shopping expenses.
Shop smart with LimeRoad offers and stay fashionable!!