San Diego, California based Qualcomm has backed an online e-commerce named, Big Shoe Bazaar India Pvt Ltd.. According to Big Shoe, it has raised $20 million in a Series C funding round, which was led by Fidelity Growth Partners India, and Qualcomm, via Qualcomm Ventures.
Other investors in the startup include Nexus Venture Partners and Catamaran. Big Shoe runs Yebhi.com, an online retailer of shoes, footwear, apparel, and other related products. Qualcomm has an Indian arm of Qualcomm Ventures, which covers both India and Israel.
What this means:
West Coast investors whether corporate VCs or traditional VCs continue to be upbeat about the India market and keep investing in startups that draw revenue from India’s consumers and businesses.
