Total amount raised
$257 Millions
Latest funding date
09/01/2019
Location
ShopClues has successfully raised funding through multiple rounds, with its last known funding round closing in September 2019. The platform, which offers a wide range of products across various categories, has garnered support from 13 investors, including CluesNetwork and Unilazer Ventures.
Keep reading to explore the intricacies of ShopClues' fundraising journey and the investors backing this dynamic e-commerce platform.
What Is ShopClues?
ShopClues, founded in July 2011 in Silicon Valley, is India's first and largest managed marketplace. The company operates from Gurgaon, Haryana, India, and is an Indian subsidiary of Clues Network Inc.
Founded by Radhika Aggarwal, Sandeep Aggarwal, and Sanjay Sethi, ShopClues connects buyers and sellers in a managed environment, offering a wide range of products including electronics, fashion, and home items. The platform supports easy returns, multiple payment options, and a rewards program called CluesBucks.
With over 100 million monthly visitors and more than 2.5 crore listed products, ShopClues is run by an energetic team of over 1100+ employees. The company ships to over 25,000 cities across India, providing an excellent online shopping experience with great selection, low prices, and fast delivery.
How Much Funding Has ShopClues Raised?
- Amount Raised: $4M
- Date: January 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong market presence and expand the platform's capabilities.
- Amount Raised: $10M
- Date: March 2013
- Lead Investors: Helion Venture Partners, Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the product offerings.
- Amount Raised: $15M
- Date: May 2014
- Lead Investors: Helion Venture Partners, Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the marketplace and improve logistics.
- Amount Raised: $100M
- Date: January 2015
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost marketing efforts and increase customer acquisition.
- Amount Raised: $100M
- Date: January 2016
- Lead Investors: GIC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology infrastructure and expand into new markets.
- Amount Raised: ₹500M
- Date: May 2017
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Amount Raised: Not publicly disclosed
- Date: December 2017
- Lead Investors: GIC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To sustain growth and explore strategic opportunities.
- Amount Raised: $1M
- Date: February 2018
- Lead Investors: Unilazer Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To maintain operations and invest in new initiatives.
- Amount Raised: ₹1.1B
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To preserve cash and scout for a buyer.
- Amount Raised: ₹78.6M
- Date: September 2019
- Lead Investors: CluesNetwork
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic growth.
Total Amount Raised: Not publicly disclosed
Current Valuation: Not publicly disclosed
Key Investors
- CluesNetwork
- Details: CluesNetwork is the legal name of ShopClues' parent company, Clues Network Pvt. Ltd.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
- Unilazer Ventures
- Details: Unilazer Ventures is a private equity and venture capital firm that invests in early-stage and growth-stage companies.
- Investment Focus Areas: Media, entertainment, e-commerce.
- Notable Investments: Zomato, Lenskart, Bewakoof.
- GIC
- Details: GIC, or Government of Singapore Investment Corporation, is a sovereign wealth fund established by the Government of Singapore to manage its foreign reserves.
- Investment Focus Areas: Equities, fixed income, real estate, private equity.
- Notable Investments: Alibaba, Airbnb, Flipkart.
- InnoVen Capital
- Details: InnoVen Capital is a venture debt firm that provides debt capital to high-growth companies in India and Southeast Asia.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Swiggy, Byju's, OYO Rooms.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
What's Next for ShopClues?
ShopClues is poised to explore new monetization initiatives, leveraging the recent $16 million funding to sustain operations and scout for a buyer. This strategic move could open doors to significant growth opportunities, especially if a larger entity acquires the platform, providing expanded resources and market reach.
However, the company faces challenges, including a decline in daily orders and the need to preserve cash. The competitive e-commerce market in India adds to the pressure. Future fundraising might hinge on the success of these new initiatives and the potential acquisition, which could stabilize ShopClues' financials and pave the way for further growth.
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