NDTV Ethnic Retail raises $5 mn

NDTV Ethnic Retail, which operates NDTV group's e-commerce venture IndianRoots.Com, has raised USD 5 million from KJS group at valuation of USD 85 million for the vertical.
The fund will be used to scale up portal's logistics and delivery mechanisms, expand its marketing activity, NDTV Ethnic Retail said in a statement.
NDTV Co-Chairperson Prannoy Roy said: "With the fresh investment in the business and the complete backing of the NDTV Group, IndianRoots will be able to push harder in achieving its plans for the year. We look forward to our partnership with the KJS Group in strengthening the IndianRoots venture".

The group is aiming to be a market leader in Indian fashion in the year ahead, the statement added.
KJS Group Chairman Kamaljeet Singh Ahluwalia and Director Karanpal Singh said: "Given our interest in the e-commerce sector, partnering with a respected and credible organisation such as NDTV was the obvious choice for us."
Started in mid of 2013, IndianRoots has over 100 designers and 700 plus brands on its online marketplace with a worldwide customer base and India and USA being the largest markets.