Jabong to raise $100 million

Funding will come from CDC

Online fashion retailer Jabong is all set to raise equity funding worth Rs 628 crore, of which Rs 173 crore will come from British development finance institution – CDC.

In this fresh round of funding that has just completed, CDC has picked up an undisclosed stake in the Gurgaon-based venture, which was incubated by Germany's Rocket Internet.

The CDC investment in Jabong is the latest in a series of transactions in India's online commerce industry over the past eight months.

In a public statement, Rhyddid Carter, spokesman for CDC, has said, "Our investment in Jabong will result in the creation of thousands of direct and indirect jobs throughout the supply chain and distribution network."