VC firms Helion Venture Partners and Nexus Partners, along with Netprice.com CEO Teruhide Sato, have invested Rs.54 crore ($10 million) in Vadodara-based online sales facilitating e-commerce firm Shopclues.com. ShopClues, founded in 2011 by former Wall Street analyst Sandeep Agarwal along with three e-commerce professionals, helps third party merchants to sell online The new funds will be used to expand into more cities.
It had earlier raised Rs.20 crore in the first round from investors including Nexus. The promoters own a majority stake in the e-commerce company, which is expected to clock Rs.120 crore sales by March 2013.
Source: Economic Times
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