Fashion&You raises $40 mn in venture funding

Fashion and You, an invitation-only shopping site, has raised $40 million (Rs 201 crore) from a group of investors led by Norwest Venture Partners and Intel Capital. This is touted to be the highest investment in e-commerce space in the country, signifying the growing interest of the investors’ community in the e-commerce space in India. For the company, it was the third round of investment and also saw participation from Sequoia Capital India and Nokia Growth Partners. Fashion and You raised its first round of funding during its inception — from European and Indian private investors. In the second round, it raised $8 million from Sequoia Capital India which was in December last year.