Infosys co-founder and ex-chairman of UIDAI Nandan Nilekani has infused Rs 13 crore in 10i Commerce Services, the parent company of e-commerce platform ShopX, as reported by data platform Paper.VC. In a statement shared with MediaNama, Amit Sharma, Co-founder and CEO of ShopX clarified that Nilekani is one of its key investors and mentors at SHOPX." Since his first investment in April 2015, he has been backing the startup with a steady infusion of funds in tranches as well as strategic mentorship. The funding of Rs. 13 crores is part of an existing investment structure and not a fresh round of investment," he added. Started in May 2015, Bangalore-based ShopX enables offline retailers and smaller shop owners to sell online using its e-commerce platform. It claims to have 45,000 retailers in 230 towns across India as on May 2017. Nilekani had previously invested Rs 25-30 crore in the company in July 2016. According to this online publication, ShopX has raised a total of Rs 122 crore so far, and Nilekani has been infusing funds since April 2015 in this e-commerce startup. The startup helps retailers with digital services as well as physical services. It helps small shop owners and other retailers to build their own customized online storefront. Sellers are assisted with in-app mobile phone/DTH recharges, listing and categorization of products, creation of custom deals and offers, and other utility apps for download within the app. Products listed by these sellers will be displayed on an app for consumers. They can place an order within the…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...