LimeRoad, the Women’s online social shopping portal has raised $15 million in its second round funding from the New York-based Tiger Global. Tiger Global is also the common investor for big Indian startups like Flipkart and Myntra.
Back in 2012, LimeRoad raised a $5 million series A funding from Matrix Partners and Lightspeed Venture Partners. Both the previous investors also participated in the second round funding along with Tiger Global.
The startup is a women centric social shopping platform which lets the e-shoppers discover and buy lifestyle products such as clothes, shoes, bags and other accessories.
According to Suchi Mukharjee, the CEO of LimeRoad, India accounts for 20 percent of world’s lifestyle manufacturing industry and the company is bringing a new and fresh social shopping platform to acquire that wide Indian market.
In a press release Mukharjee said,
90%+ of our 1,50,000+ products and looks are unique and user generated, and this is growing 30-40% per month. On average the community of LimeRoad users generates 3x more actions and page views per session on our platform versus any other alternative available to them in this market.
LimeRoad is hitting the mobile space with a huge monthly growth of 45% in its organic traffic. The startup also announced the launch of its Android Mobile App to reach more potential customers.