99Labels.com, a boutique online shopping site has raised Rs 5 crore from Info Edge India, according to a BSE filing. Note that the website is no longer invitation only, and it has a registration link. (Thanks for pointing it out @deepakshenoy) The filing states that 99Labels has raised this capital through fully convertible cumulative redeemable unsecured debentures, although it is not clear as to where the company plans to use the capital raised. It's worth noting that Info Edge had stated during its Q1-FY13 conference call that the group was planning to tweak the business model of 99labels, although it had not provided any further details regarding this. Info Edge Investment: Info Edge had invested a total of Rs 28.5 crore into 99Labels till now. This includes Rs 16 crore in May 2011 and Rs 5 crore in Q4 2011 and the current funding round of Rs 5 crore.…
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