Moneycontrol
Dec 07, 2017 06:49 PM IST | Source: Moneycontrol.com

Blacksoil Capital invests $2.3 mn in online fashion retailer eShakti

The investment will be used to grow the business by introducing new products.

Moneycontrol News @moneycontrolcom

Blacksoil Capital invests USD 2.3 million in the US-focused online fashion retailer eShakti.com which is backed by IDG and Ivy Cap Ventures.


The investment will be used to grow the business by introducing new products.


The company has raised USD 15 million in equity investments from IDG Ventures, Ivy Cap, and other investors.


“We are raising Series C capital of the order of USD 25 million and see this venture debt from Blacksoil as well-timed and fitting our purpose of scaling the business,” said BG Krishnan, founder, and CEO, eShakti.com.

Mohinder Bansal, founder of Blacksoil Capital said, “Our funds will enable eShakti to grow with renewed focus. Our timing of entry as a debt provider will catalyze their multi-fold growth over the next three years."

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