Five month old horizontal e-commerce startup Mouse-e.com by Bangalore-based Mouse eRetail Pvt Ltd has raised an angel investment of Rs 1 crore from anonymous investor(s). The e-com venture that deals in products like educational books, gadgets, appliances, baby products, and others is also targeting another round of VC investment of around $5 million by June 2012, according to Business Standard.
Mouse-e hopes to expand its geographic reach initially to 130 cities across the country and later cater to the tier-II and tier-III cities with the funds raised, having partnered with FedEx for logistics and Xygale, a product Y-Cash software Solutions Pvt. Ltd., for mobile shopping using QR codes.
With a tag-line that says, “Khareedo wohi jo zaroori” (Buy only what is necessary), the company that started in December 2011, appears to be trying to build a emotional quotient with its buyers to sell their products but is however making people skeptical about their USP, given that retailing business is modeled on impulse buying, and with their late entry into the e-tailing scene, considering the large number of players already present in the Indian horizontal e-com market by now.