Friday, March 1

Tag: SHOPX funding

B2B Startup ShopX Secures $35 Million to Boost Expansion
FUNDING

B2B Startup ShopX Secures $35 Million to Boost Expansion

B2B firm ShopX has reportedly raised an amount of $35 million in a fresh funding round from Fung Strategic Holdings. The primary purpose of this funding is to fuel the company’s expansion plans. The funds so raised are being planned to use in the strengthening of ShopX’s products and engineering teams. Along with this, the company also plans to strengthen its FMCG offerings and credit services. “We believe that credit is a game-changer in this industry,” said Amit Sharma, co-founder of ShopX. “While we will not be providing credit directly, we will do so through NBFCs and invest heavily in this vertical,” he added. Prior to this funding round, ShopX has secured funds of over $18 million from its early investor, Nandan Nilekani. Amit Sharma also stated that the company has also partner...
Nandan Nilekani Invests 12.99 Crore in E-commerce Platform
FUNDING

Nandan Nilekani Invests 12.99 Crore in E-commerce Platform

SHOPX, India’s fastest growing digital offline platform, fueling retailers in India, has received ₹12.99 Cr of fresh capital from existing investor, Nandan Mohan Nilekani. ShopX has so far raised a total of ₹122 Crore of which Mr Nilekani's contribution has been almost all of it. The former UDAI Chairman and Infosys co-founder, Nandan Nilekani has been a strategic investor in ShopX. His first investment of ₹3 Cr in ShopX was as early as April 2015. He has been since then backing the startup with a steady infusion of funds every now and then. Founded by Amit Sharma and Apoorva Jois, ShopX claims to enable retailers to earn 30 to 40 percent more than the traditional retail model. Bangalore-based SHOPX is India’s fastest growing digital offline platform, which provides significant...