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Ecommerce Startup, LetsBuy Raises $6 million Funding

2011-01-26 APEC-ECBA

ECommerce is a growth category in Indian online space and Indians are getting comfortable with buying branded products online.  


LetsBuy.com, a startup by Hitesh Dhingra (earlier cofounder of Tyroo and also runs CafeGadets.in) has raised $6 million from Helion Venture Partners, Accel Partners & Tiger Global.


Launched in 2009, New Delhi based LetsBuy is  an online retailer of consumer electronics, communications and computer goods from the leading brands in the categories and maintains complete control of the product-delivery logistics, ensuring shorter delivery time.


What’s interesting is that Accel also invested in Flipkart, which too is expanding into consumer electronics category (i.e. LetsBuy competitor).


Accel Partners and Helion Ventures recently invested $2.8 million in Exclusively.in, an ecommerce venture targeted towards US market.


Is ECommerce the next big thing or we are witnessing a herd story here?