FashionAndYou raises funding of $ 10 mn

FashionAndYou, an e-commerce company incubated by Smile Group, has raised $10 million in a fresh round of funding from new and existing investors. 

Aasheesh Mediratta, Chief Executive, FashionAndYou, said: "The new funds will help strengthen the technology behind our inventory-light business model, acquire more customers to bolster our flash sale dominance and build a more cohesive brand."

Sequoia Capital, Smile Group, Norwest Venture Partners, Intel Capital and Nokia Growth Partners are believed to have participated in this round, according to a company press release.