Chennai headquartered Caratlane had raised $6 million from Tiger Global in 2011. The company raised another $6 million from the same investor in 2012.
The company was co-founded by Mithun Sacheti, a former executive of Jaipur Gems and Srinivasa Gopalan, a technology entrepreneur who founded Lister Technologies.
Caratlane had a target of reaching Rs 150 cr in revenues this year.
This will be one of the largest investments to come in to the $10 billion Indian e-commerce Industry in the last few months. In the first quarter of 2013, Snapdeal had raised $50 million from E-bay and others.
Recent investments in Indian e-commerce
- Valyoo Technologies, the e-commerce company which runs LensKart, BagsKart, WatchKart and JewelKart had raised $10 million from UTV founder Ronnie Screwvala’s Unilazer Ventures Limited and IDG Ventures.
- Managed marketplace ShopClues had raised $10 mn from Helion Venture Partners, Nexus Ventures and Netprice.com Chief Executive Officer Teruhide Sato.
- Gurgaon based HealthKart, which sells consumer healthcare goods online raised $14 million in series B funding from Intel Capital and Sequoia Capital.
- LadyBlush raised funding from Rocket Internet.