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Klip.in raises Rs 3 crore funding from Venture Nursery and other investors

Klipin

Social e-commerce discovery platform Kilp.in has raised Rs 3 crore funding from investors such as Venture Nursery, members of Calcutta Angels, Mumbai Angels as well as several high net worth individuals from India and abroad, reports The Economic Times.  Klip is also a  season 2 graduate from VentureNursery’s acceleration program that concluded in April 2013 and raised funds from Venture Nursery in July 2013

Founded in 2011 by Harsh Gadia and Maneesh Madambath, Klip.in focuses on product discovery on different eccommerce portals and adds a social layer.  Klip essentially was a curation tool for e-commerce sites, and the company monetized with each purchase made from its sites, but later Maneesh Madambath, co-founder at Klip, informed MediaNama that Klip has completely moved out of its previous business model.  Currently, Klip does not sell any products from its website  and the tie ups with the vendors mentioned above are no more. Klip is now focusing on product discovery on categories such as fashion, home and lifestyle. It has also removed books and mobile section from the website.

Competition

Hyper local products discovery platform Wooplr has raised about Rs 30 crore ($5 million) from Helion Venture Partners earlier this week. The funds will be used for hiring and expanding Wooplr’s presence in the country. The company previously raised $225,000 from a group of angel investors including Rahul Khanna, Sunil Kalra, Vivek Pandit and former Getit Infomedia CEO and angel investor Jaspreet Bindra.

There’s also Delhi-based Buyt which works as a search engine and gets users the best deals from different ecommerce websites.  In July 2013 Buyt.in has raised $1 million funding from ValueFirst Digital Media Pvt Ltd.

Bangalore-based local shopping app Lookup raised close $550,000 over the last two months: $382,000 in seed funding from Japanese investors Teruhide Sato and DeNA Co, in January this year, and raised over $160,000 from Infosys co-founder Kris Gopalakrishnan, in December last year. Lookup lets consumers chat with local businesses to make reservations at pubs and restaurants, book appointments at clinics, salons, hospitals and spas, and provides information about deals, prices, timings and product availability from offline stores.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ