Mumbai-based e-commerce startup Get Simpl Technologies has secured an undisclosed amount of funding in Series A round from the US-based fintech VC firm, Green Visor Capital LP II. Other investors like IA Venture Strategies Fund II LP, Boillot Family Trust, Russell M Byrne, The Oliver R. Grace, Jr. Millennium Trust, SF Capital Investments LP and DIA Investments LLC also participated in the round.

Co-founded by Nitya Sharma and Chaitra Chidanand, Simpl Technologies runs the online shopping app, Simpl. Talking about their team, it consists of people who’ve worked in firms like Goldman Sachs, Thomson Reuters, Mu Sigma, Housing and Publicis.

Launched in 2013, Green Visor Capital had closed its maiden fund at $50 million. In May 2016, the venture fund announced that it had raised over $51 million for its $200 second fund.

In today's, time Indian e-commerce is the most talked sector. At a time when Indian e-commerce scenario is going through a troubled phase, a homegrown e-commerce startup, Flipkart has taken over the rein of the market by becoming the third most funded private company in the world. The firm has recently bagged $2.4 billion from Japanese technology and telecom giant SoftBank.

Whereas, Fairfax Financial Holdings is reportedly in advanced talks with Infibeam, Ahmedabad-based online listed e-commerce startup. The company is looking to invest around Rs 1,200 to Rs 1,500 crore in the company, for a stake of around 10 to 12 percent.

In March 2017, OhoShop had raised $1 million in angel funding round from the Media conglomerate, Bennett Coleman and Company Ltd (BCCL).

Post a Comment

Previous Post Next Post
Like this content? Sign up for our daily newsletter to get latest updates.