ShopX secured fresh funds from Fung Group’s MD and others

ShopX, which is a Bangalore based B2B eCommerce startup has now secured INR 10.67 crore from Rajesh Ranavat, MD of its existing investor and shareholder Fung Group investment arm FX Pvt Ltd – Li and Fung, and his wife, Sandhya Ranavat.

The round also saw participation from the Kewal Krishnan Nohria, the former Chairman of Crompton Greave.

According to the report revealed, a nominal amount of INR 10 per share was allotted at a total premium amount of INR 12151 per share. While on the other hand, Ranavat couple was allotted 5852 equity shares combined, Kewal Nohria was allotted with 2926 equity shares.

Amit Sharma, Co-founder, and CEO of ShopX, said,

“We’re honored and excited to have Dean Nohria associated with ShopX. As we execute on our vision to make digital commerce accessible to the next 400 million people in India through small retailers, Dean Nohria’s experience and wisdom will be invaluable.”