eBay leads Rs 830 crore new round of funding for Snapdeal

Online marketplace giant Snapdeal today raised its second round of funding of Rs 830 crore ($133.77 million) from its existing investors led by ebay.

The last round of funding for Snapdeal was in June 2013 of about Rs 309 crore ($50 million) from similar investors-ebay, ru-net, Saama Capital and Intel Capital.

Ebay and Snapdeal declined to give any further information about the current stake of ebay in Snapdeal or over fund utilization.

We see eBay’s second round of investment in Snapdeal as an endorsement of our strategy and progress. All our current institutional investors including Kalaari Capital, Nexus Venture Partners, Bessemer Venture Partners, Intel Capital and Saama Capital have participated in this round as well, said KunalBahl, Co-founder and CEO of Snapdeal.

As Business Standard had reported earlierSnapdeal is expected to use the funds into building an ecosystem for logisticsand supply chain, technological innovations for mobile commerce.

Snapdeal funding so far

Snapdeal has raised about Rs 1,400 crore ($233million) from private equity firms so far. Investors include Bessemer Venture Partners, NexusVenture Partners, IndoUS Ventures, Recruit Corp. (Japan), Silicon Valley Bank  Last round of funding in June 2013 for about Rs 309 crore ($50million) from ebay, ru-net, Saama Capital and Intel Capital.