ShopClues, the India-based e-commerce marketplace backed by media group Bennett, Coleman & Co (BCC), has raised $16m in funding this year, the Economic Times has reported, citing an internal email.
The funding includes $10m in bridge financing from the company’s existing investors, $1m from venture capital firm Unilazer Ventures in February and an undisclosed amount from Singaporean sovereign wealth fund GIC.
Founded in 2011, ShopClues runs an e-commerce platform that sells a range of consumer goods from electronics and sporting equipment to fashion and cars. It plans to enter the US, Sri Lanka, Nepal and Bangladesh next month, according to the email.
The 2018 investment comes after a $15m ad-for-equity deal with BCC’s Brand Capital subsidiary in November 2017.
ShopClues’ investors also include Beenos, the e-commerce company formerly known as Netprice, which backed a $10m round in 2013 alongside Helion Venture Partners and Nexus Venture Partners that took the company’s overall funding to $14m.
Helion and Nexus returned for a 2014 series C round sized between $15m and $20m, as well as a $100m series D round in 2015 that was led by Tiger Global Management.
ShopClues subsequently raised a nine-figure amount from GIC, Tiger Global and Nexus Venture Partners in early 2016 at a reported $1.1bn valuation.
• A version of this article originally appeared on Global Corporate Venturing.