| Gurgaon-based online marketplace Shopclues said it has raised fresh capital in a Series E round led by GIC, the sovereign wealth fund of Singapore. Existing investors Tiger Global and Nexus Venture Partners also participated in the new financing round, which the company says catapults it to a $1.1 billion valuation, making it a part of the unicorn club.
The e-tailer did not disclose the amount raised in a prepared statement sent out to the media. What's significant is that GIC is a shareholder in India's largest online retailer Flipkart, which directly competes with ShopClues...............................................Full Article: Source
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