E-commerce company ShopX, run by 10i Commerce Services, has raised funding of $35 million from Fung Strategic Holdings to support its expansion plans, Inc42 reports. The Hong Kong-based Fung Group is engaged in supply chain business for consumer goods including sourcing, logistics, distribution and retail. The company will use the fresh funding to strengthen its product and engineering teams along with its FMCG offerings and credit services, according to the Inc42 report. We reached out to the company for more information but did not hear back at the time of publishing the post. Started in May 2015, Bangalore-based ShopX enables offline retailers and smaller shop owners to sell online using its e-commerce platform. 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 access the platform 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 app for home delivery from nearby stores. It also allows sellers/retailers to see an on-demand dashboard for real-time transaction monitoring, order performance or status, route planning for delivery, and first-mile to last mile logistics management. The company provides credit options to potential retailers through ShopX Suvidha. It claims to have 45,000 retailers in 280 towns across India, and does 50,000 transactions per day with a customer…
