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Limeroad Raises $1.49 Million in Series D Funding

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Team StartupcityGurgaon based fashion ecommerce retailer Limeroad has raised INR 11 crore ($1.49 million) in equity in series D funding from MA Willmind Holdings, a Mauritius based firm. Limeroad raised the amount by issuing 13,974 equity shares at a face value of INR 10 per share with a premium of INR 7,905 per share.

Founded in 2012, the company’s last round of funding was in 2015 when it had raised $30 million from Tiger Global, Lighspeed Venture Partners
and Matrix Partners. Prior to that the company had received $15 million in series B round of funding in 2014 and $5 million in series A funding back in 2012. With the current round of investment, Limeroad has collectively raised over $51.4 million through four rounds of investments.

Headed by Suchi Mukherjee, Ankush Mehra, Manish Saksena and Prashant Malik, Limeroad was the first Indian social e-commerce fashion platform. The company allows users to shop online along with creating lookbooks that can be shared across social platforms. The platform carries a wide selection of fashion apparel and accessories for women, men and children. Limeroad has also added a home décor category that carries paintings, photo frame, wall hangings, wall clocks, panels, scones and other products.

Back in July, the online fashion retailer was caught in the middle of a cyber-security storm when reports came out of 1.29 million customer records being compromised. Limeroad had however refuted the claims and maintained that the reports were baseless.