HomeShop 18 raises $14 mln in fresh round of funding

MUMBAI (Reuters) - Network 18 Media and Investments Ltd's online retail arm HomeShop 18 has raised $14 million in a fresh round of funding, the company said in a statement on Wednesday.

Korean company GS Home Shopping Inc <028150.KQ> along with OCP Asia and Network 18 were the investors, the statement said.

Indian online retail firms are raising capital to benefit from the country's fledgling $10 billion online commerce as rising incomes and aspirations to own big brands push a time-constrained working middle class to shop from their homes.

(Reporting by Nandita Bose; Editing by Anand Basu)