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LimeRoad: Ecommerce Platform receives R. 11 Cr Funds from MA Willmind Holdings

LimeRoad is an e-commerce platform which was founded back in 2012 by founders Prashant Malik, Manish Saksena, Ankush Mehra and Suchi Mukherjee. Being an online fashion and apparel store, LimeRoad is different from its competitors in some way. The website allows user to filter products in categories, material, cost, colour, brand etc.

LimeRoad also allows you to have discussions and debates over the product with other users. One can discuss the purchase of other users, the material of the product, worth buying or not etc. This feature gives LimeRoad a separate identity from other competitor e-commerce websites. In totality, the main attraction and drive of the website run through user-generated promotions and content. This is not something Myntra or Amazon focuses on.

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According to official documents by the Ministry of Corporate Affairs (MCA), the e-commerce website had issued 13,974 equity shares at a face value of Rs. 10 per share with a premium amount of Rs. 7,905 per share. This math amounted to a much greater number of Rs. 11, 06, 10,000.

LimeRoad not only deals with fashion or apparels, but the website also offers Kitchen and Home products. Sellers can also post their decorations and products on the website which will help them to build their own audience and give them a well-established platform to sell and showcase their products. This is something which Myntra and Jabong are not doing, so all of these features combined give LimeRoad a separate audience.

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Recently, LimeRoad has received generous funding of Rs. 11 Cr from MA Willmind Holdings which is a company based out of Mauritius.

Apart from this, the last reported funding that the company received was back in 2015 in Series C round led by Tiger Global management. The funding amounted to $30 million. Till date, LimeRoad has raised funding from five different companies worth Rs. $50 million in three funding rounds.

 

In a recent controversy, LimeRoad was accused of 1.29 million records of data leak on the Dark Web, to which the company responded negatively. Suchii Mukherjee, one of the co-founders of LimeRoad called these allegations baseless and asked for an investigation report, to which there was no response from the Cyber Security firm- Cyble.

Mukherjee says that the company has no reason to believe the numbers and these allegations are true and none of these numbers belong to any of their customers.

 

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