Klip Raises Rs 3 Crore funding

Mumbai-based Klip.in, a social product discovery tool for online shoppers has raised about Rs 3 crore ($0.5 million) from VentureNursery, a start-up accelerator, members of Calcutta Angels, Mumbai Angels as well as several high net-worth individuals from India and abroad.

Klip is a product discovery tool for interesting and off beat lifestyle products. It helps its users to find and create a virtual collection of far out, creative and quirky products.

The funds raised will be used 'to scale up technology and marketing teams,' said Raghav Kanoria, cofounder & director, Calcutta Angels.

In 2013, Klip raised an undisclosed from Venture Nursery and in the same year received undisclosed amount from Mumbai Angels and a few individual investors. Venture Nursery and Mumbai Angles are the two investors who have supported Klip throughout its journey.

Apoorv R Sharma, executive vice president, VentureNursery said, "This validates the faith we placed in the ability of Klip's founding team and their vision. Klip shows that the best approach to social commerce is to build a strong community of users and we are excited to see this next phase of their evolution."

Mumbai based Klip.in was started by college mates Maneesh Madambath and Harsh Gadia back in 2011. They have also be running Smursh Media, a media agency, for the past five years now.

Currently, Klip has nearly a million products from over 900 stores that thousands of its users 'klip' and curate from.

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