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Business Standard plans to raise more funds in 2013

The company has recently raised around Rs 100 crore from Fidelity Growth Partners India, Qualcomm Ventures and Catamaran Ventures

Sohini Das  |  Ahmedabad, a fashion, home and lifestyle e-commerce portal, is eying to raise more funds in 2013 to fund its infrastructure expansion plans. The company has recently raised around Rs 100 crore from Fidelity Growth Partners India, Qualcomm Ventures and Catamaran Ventures.

"We have significantly invested in back-end operations that would support our growth plans. We plan to increase our manpower count from 700 at present to around 1000 people over the next few months", said Manmohan Agarwal, chief executive officer of He added that the company planned to raise more funds in 2013 for expanding infrastructure, but did not wish to comment on the quantum of funds that can be raised. "We are yet to take a call on how much funds we will raise", Agarwal said.

In  2010, the company had raised Rs 10 crore of Series A funding by Nexus Venture Partners, followed by a second round of funding of Rs 40 crore in 2011 led by N R Narayana Murthy's Catamaran Ventures.

As for business growth plans, Agarwal said that the company's recently launched 'try and buy' option has received good response. According to the scheme, customers can try a dress at home while the delivery boy waits. "We had launched the scheme in early August supported by a television commercial and it has received good traction", he said.

The company is eying close to 250% growth during the current fiscal.

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First Published: Fri, October 05 2012. 13:06 IST