HomeShop18 gets fund boost

Indian e-commerce company HomeShop18 has raised $30 million in funding from Hong Kong-based hudge fund OCP Asia and Indian media company Network18.

“We will channelise these funds in increasing both the IT as well as logistics infrastructure as well as active consumer engagement,” said HomeShop18 CEO Sundeep Malhotra.

HomeShop18 provides an integrated virtual shopping experience on Internet, television and mobile through HomeShop18.com and a 24 hour home shopping TV channel. It claims a customer base of 6.1 million, a portfolio of over 12 million SKUs across multiple product categories and a logistical reach of more than 3000 locations across India.

“We believe HomeShop18 is well positioned to take advantage of the impending digital boom in both the TV and internet segments. In addition, it is encouraging to see that the e-commerce sector is now focusing on profitable growth as the customer acceptance of the proposition grows,” said Sai Kumar, CEO of Network18, a majority shareholder in HomeShop18.

Recently, HomeShop18 launched India’s first virtual shopping wall called “Scan N Shop” at Delhi Indira Gandhi International Airport.

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