ShopClues.com, India’s first and currently largest managed marketplace that connects buyers and sellers, is looking to raise between $30m and $50m following on from its January 2013 series C funding round that was worth $10m. The last round was backed by Helion Venture Partners, Nexus Venture Partners and Japan’s Netprice, which is backed by IT Asia corporate venturing units CyberAgent and Dentsu.
The company has earlier received investments to the tune of $ 4m in series A funding in 2012, and $2m in angel funding in 2011, according to news reports.
The business was founded in July 2011 in Silicon Valley. ShopClues.com ships in over 9,000 cities across India and has thousands of online stores. It is an Indian subsidiary of Clues Network Inc., a US Corporation and is based out of Gurgaon.