LimeRoad, a social shopping platform for women, just announced it has raised a $15 million Series B round.
The round was led by Tiger Global, with participation from existing investors Lightspeed Venture Partners and Matrix Partners India, the India Times reported on Tuesday.
“We are revolutionizing the way lifestyle products are discovered and ultimately bought online in India, and are delighted to work with investor partners who share our hunger for winning and are supporters of our disruptive model to get there,
Suchi Mukherjee, founder and CEO, LimeRoad, said in a statement. “India accounts for 20 per cent of the world’s manufacturing of lifestyle products and we are convinced that conquering the ‘discoverability’ of that wide array needs new thinking and a fresh ‘socially-architected’ approach.”
LimeRoad executives said the investment will help LimeRoad accelerate its growth and comes with the company’s launch of its Android mobile app.
Avnish Bajaj, Managing Director of Matrix India said LimeRoad is “leading the social commerce revolution in India” with a focus on winning the two biggest drivers of future online commerce marketplaces -women and mobile.
“The community of scrapbookers on LimeRoad is zealously passionate about the platform and reminds one of similar communities in scaled marketplaces like eBay,” Bajaj said to the India Times.