LetsBuy.com, an Indian ecommerce site, has landed $6 million in growth capital from renowned investment firms like Helion Venture Partners, Accel Partners and Tiger Global. Launched only a year and a half ago, LetsBuy.com has quickly emerged as one of India’s fastest growing online retail sites, selling mostly consumer electronics from leading brands such as Acer, Canon, Western Digital and Sony.
LetsBuy.com sets up partnerships with these brands in order to offer a wide range of products for sale at significant discounts and short delivery times, via the Web. Its catalog currently lists 150 brands and contains over 5,000 products.
Hitesh Dhingra, founder and CEO of LetsBuy.com says the funds will be used to strengthen the company’s customer service, technology and supply-chain processes.
LetsBuy.com was founded by Hitesh Dhingra, also co-founder of India’s first contextual online advertising network, and Amanpreet Bajaj, who boasts over six years of experience in process consulting with a major consulting firm.