Staggering amount of funds is being injected in the ever growing ecommerce industry. While homegrown ecommerce giant Flipkart is all set to seal a whopping $550 million funding deal, small players are luring investors too.
RedPolka.com, a platform that showcases curated collection of fashion clothing, accessories, home decor & lifestyle products just raised nearly Rs 1.6 crore in a fresh round of angel funding. A group of five investors made this possible looking at the startups’ potential. Founded by Vishakha Singh, the three months old company will utilize the funds to develop their team and build its mobile app.
NDTV’s ecommerce venture, Indianroots is another company that received fresh funding. Jaipur-based investor, KJS Group has pumped in $5 million (approximately Rs 32 crore) in the ethnic online fashion store.
Co-founder of NDTV, Prannoy Roy said, “With the fresh investment in the business and the complete backing of the NDTV Group, IndianRoots will be able to push harder in achieving its plans for the year. We look forward to our partnership with the KJS Group in strengthening the IndianRoots venture.” KJS’s head honchos added, “Given our interest in the e-commerce sector, partnering with a respected and credible organisation such as NDTV was the obvious choice for us.”
National as well as global investors are queuing up with funds as ecommerce continues to grow at a breakneck speed and generate revenue. Besides the obvious reasons, what is fueling this growth are affiliates and cashback portals. Nearly 10-15% of the ecommerce companies’ revenues are generated by cashback sites.
Which is why many startups in this field like CashKaro, TopCashback, Baggout are doing well. Latest to make noise in this field is BonusBay. After starting their business in India last year, BonusBay has already collaborated with biggies like Snapdeal, Flipkart, Jabong and Amazon. A beneficial platform for both, buyers and sellers, BonusBay has managed to make a place for themselves with the help of their impressive cashback offers.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
Leave a Comment
