You’re reading it here first: Fashion And You, an invitation-only shopping site has raised around $8 million from Sequoia Capital India, MediaNama has learned from multiple sources. The investment comes a little more than a year after Fashion And You was launched, co-founded by former Yahoo India Sales Director Pearl Uppal, and backed by Group Buying Global AG and Smile Interactive founder Harish Bahl. Bahl, when contacted by MediaNama, declined to confirm or deny the development. We’re awaiting a response from Sequoia Capital India.
Fashion And You offers its registered users deals from designers at significant discounts, through limited time sales. There had earlier been a buzz that Deals And You, another company backed by Bahl and Group Buying Global AG, was raising funds, but that news was incorrect. E-commerce appears to be the flavor of the season, with exclusive shopping portal Exclusively.in having raised $2.8 million from Accel Partners and Helion Venture Partners; last month, German media company Axel Springer had also picked up 19.1% in discount buying business Bag It Today. Another group buying startup, Taggle, also received a commitment of $8.75 million from Battery Ventures and Greylock Partners. There’s been a buzz around SnapDeal also raising funding.