Tiger Global leads second investment round in LimeRoad

After Flipkart and Myntra, New York-based fund Tiger Global is now leading a 15 million

dollars (over Rs 90 crores) round in another online fashion platform LimeRoad.com. LimeRoad will also have existing investors Matrix India and Lightspeed Venture Partners participate in the second round of funding. As per a report by venture fund Accel Partners, Indian women fuelled e-tail worth over half a billion dollars (over Rs 3,000 crores) last year with the figure expected to increase five-fold to 3 billion dollars (over Rs 18,000 crores) in the next three years.

Founded by Suchi Mukherjee after her stints at eBay, Skype and Gumtree, along with Prashant Malik, a Facebook employee, and Ankush Mehra, former Head of supply chain at Reliance Hypermarkets, LimeRoad focuses on retailing wares of small and unknown vendors on its platform. Matrix, along with Lightspeed, had invested 5 million dollars (over Rs 30 crores) in LimeRoad in 2012.

LimeRoad.com recently invited applications from designers for its summer internship program. The opportunity would provide hands on experience for emerging designers to create a stylish platform for shopping in South East Asia. Earlier, the platform had launched ‘Create & Earn’ initiative to enable their unique and rapidly growing community of Scrapbookers to earn from the looks they create. LimeRoad.com’s innovative scrapbook application allows people to select from a range of products, create a unique look and share it with their friends.