Indian unicorn ShopClues raises $7.7m in venture debt from InnoVen Capital

Online marketplace ShopClues has raised Rs50 crore in venture debt from InnoVen Capital, in a rare instance of a home-grown unicorn opting for venture debt.

The fresh capital infusion comes over 15 months after ShopClues, owned by Clues Network Inc, entered the so-called unicorn league by raising $100-140 million in January 2016. That money was raised from Singapore’s sovereign wealth fund GIC Pte Ltd, and existing investors Tiger Global Management and Nexus Venture Partners, at a valuation of over $1.1 billion.

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