Gurgaon-based e-commerce company Yebhi has raised $12 million from its existing investors Fidelity Growth Partners India, Qualcomm Ventures, Nexus Venture Partners and Catamaran. The round seems to be a bridge round as the company has been unable to raise follow on capital from new investors.
With this round Yebhi has raised a total of around $39 million of investment in four rounds. It also switched to the managed marketplace model like rivals ShopClues and Pepperfry. Besides this internal round Yebhi is also looking to raise more growth capital.
Earlier in July Yebhi raised $20 million Series C funding led by Fidelity and Qualcomm Ventures. The company had also raised Series A funding of $2 million from Nexus in 2010. In 2011 it raised Series B funding which was led by Catamaran and Nexus.
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