Big Shoe Bazaar announced US $20Mn in Series C funding led by Fidelity & Qualcomm
In 2010, the company raised INR 10 Cr ($2 Mn) of Series A funding by Nexus Venture Partners followed by a second round of funding of INR 40 Cr ($8 Mn) in July 2011 led by Catamaran Ventures. Yebhi also acquired online jewelry portal Stylishyou.in and the founding team of Madeinhealth.com in April 2012 which was supposedly post this funding round.
Talking about the deal, Karthee Madasamy, Senior Director, Qualcomm Ventures, India and Israel said,“The number of Internet users via mobile has already surpassed Internet users via PC, creating a growing opportunity to reach mobile connected consumers with unique shopping experiences. Our investment in Big Shoe Bazaar has come at a time when the rapid rise of smartphones, tablets and social media networks stands to greatly influence the way people engage in online shopping. We are delighted to co-lead this financing round.” Also according to Manmohan Agarwal, CEO, Big Shoe Bazaar India Pvt Ltd, Series C round of investments will be used to further strengthen supply chain and logistics network.