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India's HomeShop 18 raises $14 mln in fresh round of funding
October 23, 2013 / 1:01 PM / in 4 years

India's HomeShop 18 raises $14 mln in fresh round of funding

MUMBAI, Oct 23 (Reuters) - Network 18 Media and Investments Ltd’s online retail arm HomeShop 18 has raised $14 million in a fresh round of funding, the company said in a statement on Wednesday.

Korean company GS Home Shopping Inc along with OCP Asia and Network 18 were the investors, the statement said.

Indian online retail firms are raising capital to benefit from the country’s fledgling $10 billion online commerce as rising incomes and aspirations to own big brands push a time-constrained working middle class to shop from their homes. ($1 = 61.59 rupees) (Reporting by Nandita Bose; Editing by Anand Basu)

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