China-based e-commerce company VIPshop has led a series D round for India-based online lifestyle retailer Fashionandyou.com that also featured Intel Capital and Norwest Venture Partners, TechCircle.in has reported, citing sources familiar with the development.
The amount raised by Fashionandyou was not disclosed. Founded in 2009, the company operates an online shopping club with almost 5 million members.
Norwest, the venture capital firm backed by bank Wells Fargo, and Intel Capital, the corporate venture capital arm of semiconductor maker Intel, co-led a $40m round for Fashionandyou in 2011 that also featured corporate venturing unit Nokia Growth Partners and Sequoia Capital India.
Sequoia, also an investor in VIPshop, previously provided $8m for the Indian company in December 2010.