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HomeShop18 Raises Rs.100 Crore; Eyes Rs.200 Crore More: Report

Network18's home shopping retailer, HomeShop18 has raised Rs 100 crore from existing investors SAIF Partners, Network18 and GS Shopping, reports VC Circle. The company intends to raise an additional Rs 200 crore, for which it is already in talks with some investors, according to the report. It cites two people with direct knowledge of the development as its source. However it could not verify the same from Network18. HomeShop18 intends to use the raised amount to invest in technology, new warehouse facilities and in improving its logistics network. The company runs an e-commerce store and a 24 hour home shopping tv channel, and claims to have a user base of 2.5 million. HomeShop18 had previously raised $18.5 million from South Korean home shopping retailer GS Home Shopping, with an additional investment of $5 million put in by parent company Network18. The…

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