GlowRoad, a women-centric customer-to-customer (C2C) reseller network, has raised $2 million (Rs 12.8 crore) in Series A funding from Accel Partners, its founder Sonal Verma told VCCircle.
Verma, a doctor by qualification, said the startup will use the funds for acquiring more resellers and developing its technology platform.
GlowRoad, run by Bengaluru-based Accelerator Enterprise Pvt. Ltd, is a network for women, especially housewives, who can sell products in their neighbourhood. Earlier called LocalQueen.com, the portal was acqui-hired by Verma and her team in June this year and rebranded as GlowRoad.
“Housewives are a big part of the female population in India. Some of them are homepreneurs... GlowRoad is a C2C platform for such women,” Shekhar Sahu, an advisor on the board of GlowRoad, told VCCircle.
The fund-raise was first reported by The Economic Times.
In March, in a move aimed at giving a fillip to women entrepreneurs, the Karnataka government had announced a $1.5 million (Rs 10 crore) Idea2POC (idea to proof of concept) fund.
Priyank Kharge, the state minister for IT (information technology), BT (biotechnology) and tourism, said his department will provide Rs 50 lakh to any woman innovator looking for funds for proof of concept validation and certification.
Other women-focused ventures in India include POPxo.com, a digital publication targeted at young women. In March, it had raised $2.7 million in a Series B funding round led by Japanese venture capital firm GREE Ventures, with participation from its existing investors Kalaari Capital and IDG Ventures India.
SheThePeople.TV, a digital storytelling platform for women founded by journalist Shaili Chopra, had raised funding from Mahindra group chairman Anand Mahindra in May last year.