Exclusive: Assisted e-commerce firm for rural consumers StoreKing in talks to raise $40M

LocalCube Commerce Pvt Ltd, which runs an assisted e-commerce platform under the StoreKing brand for rural customers to shop, is in talks to raise $40 million (Rs 255 crore) from a set of venture capital and private equity firms, a top company executive told Techcircle.in.

StoreKing's existing investor, Luxembourg-headquartered venture capital firm Mangrove Capital Partners, is also likely to participate in the round. Founded in 2000, Mangrove Capital is an early-stage investor in internet and software startups and counts voice chat app Skype and instant messaging aggregator Nimbuzz among its past portfolio companies.

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