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Business Standard

Shopmatic raises USD 5.7 million funding

E-commerce technology provider Shopmatic today said it has raised USD 5.7 million from a group of investors led by venture capitalist firm ACP Pte Ltd and Spring Seeds Capital.

The company will use this fund to expand its global footprint.

“Shopmatic..Has raised USD 5.7 million of Series AA funding led by ACP Pte Ltd, a technology focussed Venture Capital firm, and Sping Seeds Capital Pte,” the company said in a statement.

The technology firm at present has operators in India, Singapore and Hong Kong.

“After having successfully scaled its operations in India, Singapore and Hong Kong, Shopmatic will be using the funds to expand into other markets in Indonesia, the Philippines and the Middle East,” the statement said.

As part of this round of funding, ACP Managing Partner Sameer Narula will join the board of directors of Shopmatic.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Source: Business Standard