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LetsBuy.com raises $6 million from Helion Venture, Accel Partners, Tiger Global

New Delhi-based LetsBuy.com, an online retailer of consumer electronics, communications and computer goods, has raised $6 million in venture capital funding from Helion Venture Partners, Accel Partners and Tiger Global, the early investors in Facebook, LinkedIn and MakeMyTrip.

Launched in July 2009, LetsBuy.com was founded by an experienced team with strong ecommerce background and fundamentals. The business operations are managed by Hitesh Dhingra (founder and CEO) and Amanpreet Bajaj (co-founder and COO).

New Delhi-based LetsBuy.com, an online retailer of consumer electronics, communications and computer goods, has raised $6 million in venture capital funding from Helion Venture Partners, Accel Partners and Tiger Global, the early investors in Facebook, LinkedIn and MakeMyTrip.

Launched in July 2009, LetsBuy.com was founded by an experienced team with strong ecommerce background and fundamentals. The business operations are managed by Hitesh Dhingra (founder and CEO) and Amanpreet Bajaj (co-founder and COO).

Manish Vij (co-founder, Quasar Media, Tyroo, Zoomtra and Smile Technologies) and Nitin Gupta (former country manager, South Asia at MasterCard and former president and COO at Rediff.com) have made angel investment in LetsBuy.com and are presently mentoring the founding team at the young ecommerce company and helping them in the overall strategy.

Hitesh Dhingra, founder and CEO, LetsBuy.com, has said, “The funds would be deployed in strengthening customer service, technology and supply chain processes. There is a huge growth opportunity in the online retail of electronics goods and we are happy that our investors share our vision of offering the best to our customers.”

Ashish Gupta, managing director, Helion Venture Partners, has said, “We are excited to be investing in LetsBuy.com. India has witnessed tremendous growth in ecommerce and LetsBuy has been part of that growth. The team has the vision to have identified a very compelling opportunity and the execution skills to deliver to it.”

“The LetsBuy.com team has the vision and the business acumen to identify opportunities and make them stepping stones towards growth. In the process they present the best offerings to their customers and meet the goals chalked out by the partner investors. The strategy and plans match those valued by the Accel Partners team,” Prashanth Prakash, partner, Accel Partners, has added.

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