Matrix Partners India has co–led a USD 5 million first institutional round of funding of the parent company of LimeRoad.com, with Lightspeed Venture Partners. LimeRoad operates an online social platform for women to discover, share and shop the best of lifestyle products.
Founder & CEO, Suchi Mukherjee has previously been a senior executive at consumer internet companies such as eBay, Skype and Gumtree.
“Women in India contribute under 30% of the revenue for many leading sites today but will play a significantly larger role as they discover new brands and fashion trends online as has been the trend worldwide where they contribute a majority of shopping online. It is our privilege to be associated with Suchi Mukherjee and the team at LimeRoad who are building a highly differentiated curated shopping platform for the modern Indian woman.” said Avnish Bajaj, Managing Director, Matrix India.
In terms of the product, LimeRoad has a magazine format that lets you flip through the pages and the site also allows ‘pay on delivery’ option.