LimeRoad, a New Delhi-based site that lets users create and share collages of fashion product, announced today that it has raised a $30 million series C led by Tiger Global, with participation from Lightspeed Venture Partners, and Matrix Partners India.
All three venture firms are returning investors and took part in LimeRoad’s $15 million series B in May 2014. Combined with its series A, this brings the total LimeRoad has raised so far to $60 million.
LimeRoad is the second fashion product discovery site to disclose funding this month. Last week Roposo raised a $5 million series A that was also led by Tiger Global. Sites like LimeRoad and Roposo are tied into the growth of India’s e-commerce market, which some analysts believe will become the largest in the world this decade.
Sites like LimeRoad, Roposo, and Dootzon (which was acquired by and integrated into Snapdeal last year) help shoppers navigate the massive amount of merchandise on India’s top e-commerce platforms, which include Flipkart, Snapdeal, and Amazon India, as well as find products from smaller vendors.
While Roposo utilizes a recommendation engine to show shoppers products that are similar to ones they have already saved on the platform, LimeRoad encourages its users to create outfit collages by picking items from different online stores. Then the most popular collages (or “scrapbooks,” as LimeRoad calls them) are ranked using an algorithm and suggested to other users. Shoppers can purchase and pay for products from different vendors directly on LimeRoad.
The site claims its users have posted more than 1.5 million scrapbooks so far, with 100,000 scrapbooks made per day. LimeRoad says this represents a 100 times increase in user activity in less than one year.