ADVERTISEMENT

LimeRoad Secures 11 Crore INR from Willmind Holdings
L

LimeRoad, an ecommerce platform, has secured 11 crore INR by allocating 13,974 equity shares at the valuation of 10 INR and a premium of 7,905 INR per share. The last reported funding round of the online fashion and apparel store was in 2015. In its previous Series C fundraising, it secured 30 million USD from Tiger Global Management.

LimeRoad (1), an ecommerce platform, has secured 11 Crore INR from MA Willmind Holdings, a Mauritius based firm.

According to the MCA, Ministry of Corporate Affairs filings, the company has allocated 13,974 equity shares at the valuation of 10 INR and a premium of 7,905 INR per share. It aggregates to a total amount of 11,06,10,000 INR.

Ankush Mehra, Manish Saksena, Prabhat Malik, and Suchi Mukherjee founded the online fashion and apparel store, LimeRoad, in 2012. It allows shoppers to purchase products as per brand, material, color, etc. 

The last funding round of the company, Series C was in 2015 worth 30 million USD. The US-based investment firm Tiger Global Management led the previous fundraising. To date, the company has secured 50 million USD from five investors in three funding rounds. 

 

How LimeRoad Stands Out from Other Online Retail Platforms?

The main thing that makes it stand out from other old guards online retail such as Myntra and Jabong is that it allows customers to discuss the products, purchases, and promotions. Their primary business promotion relies on user-generated content. 

Apart from fashion and apparel, LimeRoad also offers kitchen and home products. Moreover, it allows sellers to post their collection, videos, looks, besides selling products, which enables them to market their brand and build an audience. 

The US-based cybersecurity firm had announced the data leak of 1.29 million records of LimeRoad customers. However, the team had called these allegations baseless. While commenting on the matter, Suchi Mukherjee, CO-founder of LimeRoad, stated that they had sought data to validate from the darknet poster and cybersecurity officer. However, they did not receive any further data. Hence the team has no reason to believe that the data belongs to their customers. 

+ posts

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

Ola Electric announced the acquisition of Etergo BV. Ola Electric has also announced its entrance into the premium electric two-wheeler market

Is Etergo’s acquisition brewing trouble for Investors?

0
Ola Electric Mobility Pvt Ltd had announced (1) the acquisition of Etergo, the Amsterdam-based electric scooters company. Ola Electric aims to leverage the design and...
From a website that only offered menu details to a full-fledged food ordering app, Zomato's rise has been rocking the birth of a new industry.

Zomato Revolutionizing the Food Industry

0
Beginning something like Zomato was out of an experience. One fine morning, Pankaj Chaddah and Deepindar Goyal were in Delhi's office when they saw...
The Indin government had warned Amazon and Flipkart to comply with the new rules and specify the product's country of origin, Amazon was also penalized.

The ‘Country of Origin Rule’ and Why it Matters to India?

0
India's government has fined ecommerce giant Amazon 25,000 INR for not displaying mandatory information, including the country of origin for its products (1). Last...
Stripe, one of the world's leading digital payment players, will soon penetrate Southeast Asia and India to expand its overseas activities.

Is Stripe’s entry to e-commerce Asia a bet on risk or return?

0
The entry of global players such as PayPal, Payoneer, and now Stripe in the Asia Pacific region validates the increasing market opportunity and evolving...
Paytm is also on its path to become a super app and give its users an all-in-one experience by offering a bundle of services.

Paytm Paving into a Super App, Expand its Service Offering

0
Paytm has pulled another conquest when the marketing reckon that it would take a kickback. Earlier, when there was buzz that Paytm is venturing...
The recent discussion now involves a massive data leak that put the information of students, teachers, and much more in crisis for WhiteHatJr.

WhiteHatJr Data Leak Controversy: Unfolded

0
Not too long ago, a live online coding platform for children, White Hat Jr., scripted a dream escape for itself. Byju's, the poster boy...
The story of Ashok Varma could be deemed as the most praiseworthy and controversial story of an ideal mind whose focus was to shift the market.

Meticulous and determined till the end: the story of Ashok Varma

0
Our world has been most captivated by the ideas of extreme players who took the world by storm, some who pulled the stock market...
It has been understood that Google, has been in talks or is in a state of mind to acquire Sharechat, the Indian social media platform.

Is Google taking the right measures to acquire Sharechat?

0
Sharechat has been India's go-to to engage in a short video and take a peek or have fun after the ban of the international...
ADVERTISEMENT