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Yebhi Trying To Raise $30M; Suvir Sujan & Raul Rai Resign From Board

Nikhil Pahwa and NT Balanarayan Update: Yebhi has mailed us to clarify that its current investors still have the right to board seat and are likely to appoint directors soon. It also said that all its current investors will definitely participate in the new round of funding. Please do note that we did not in any part of the story mention that the investing firms have  given up their rights to appoint board members. Also, we did not write that the investors will not be part of the next round, the story only states that they will not be leading the round. Earlier: Online fashion and lifestyle portal Yebhi is looking to raise $30 million in the coming months, it's co-founder and CEO Manmohan Agarwal told MediaNama, though two of its investors - Fidelity and Nexus Venture Partners are not going to…

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MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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