Smile Group Venture and Goldsquare Sales India Private Limited have announced another funding of US$ 40Mn from the VC fund houses Mayfield Fund and Norwest Venture Partners (alongwith Intel Capital, Sequoia Capital India and Nokia Growth Partners) for FashionandYou.com. Earlier this month, the companies had secured US$ 17Mn for DealsandYou.com. Commenting on the development, Pearl Uppal, Co-founder and CEO, Fashionandyou.com said, “ With this new capital, we have everything we need to exploit the opportunities offered by this vast and rapidly-growing market and to develop FashionandYou.com into a world-class e-commerce powerhouse .” What this simply means is that the funds will be directed towards acquisitions, expanding the business categories, bolstering the supply-chain & logistics mechanism & entering new geographies.


