Mouse eRetail that had launched a horizontal e-commerce venture Mouse-e.com has raised Rs1 crore in angel round of funding from un-named investors and is in talks with a couple of venture capitalists for an investment up to $5 million by June this year for pan-India expansion covering top 130 cities.
The Bangalore based online portal deals with over 5000 product from various categories such as books, personal communication gadgets, computers, home entertainment systems, sarees, personal care items, baby products and others.
The firm who had been concentrating its attention on online buyers in metros and tier-one cities is mulling to expand its customer base to tier-2 and tier-3 cities.
Founded by Subhendu Tripathy, Tapan Kumar Das and Chitta Rajan in December last year, the e-commerce site has one lakh book titles for sale in its website www.mouse-e.com. It has plans to add eighty lakh book titles in next two months. For retaining the customers confidence, the company has tied up with the Fed ex, a US based logistics services firm for in time delivery of goods. It has also tied up with xygle.com to enable the customers to download mobile shopping application from the website and shop form a digital catalogue.
It may be noted that online market in India is growing at the rate of 30 per cent compounded annual growth rate and is likely to touch $ 70 billion in next five years.
April 22, 2013, 5:55 am UTC
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