Lightspeed Invests $22.5 Million In Mercantila, $7 Million In TutorVista

4 Comments

Lightspeed Venture Partners has entered India with investments in two Indian online companies. Lightspeed has invested $22.5 million in first round in Mercantila, an online collection of specialty stores, and $7 million in TutorVista, an online tutorial company that caters to students in the US.
Mercantila began operations in the U.S. in 1997 with an online rowing-machine store. Since then, it has expanded to the home goods, fitness, and wellness markets with the most popular merchandise sold on the site being massage tables. Its development centre in Bangalore has about 100 people. Mercantila currently caters to the U.S. and Canada markets, but that will be diversified.
TutorVista had received a first round of funding of $2 million from Sequoia Capital India in May 2006.
Lightspeed plans to invest about $100 million to $150 million in India in the next few years, Red Herring quotes its partner Ravi Mhatre as saying. They typically take about 20-30 per cent stake for their investments. [Via Red Herring] Lightspeed’s partner Mhatre told The Economic Times:

4 Comments

Nanjundappa

Hi,
Development team in bangaloru is one of the best team in the world and of course Mercantila Inc. Company also.

Niranjanamurthy

Hi MERCANTILA

I saw Mercantila website wow super easy way for buy products

Sahad

You are right, it's more of a US company than Indian. Its Indian connection is the back office. Lightspeed has however announced it as an Indian investment.
Maybe they have plans to launch an Indian store front too.

kopos

Sahad,

Can you please give us more information on Mercantila and its Indian roots? As far as I found only the development center seems to be in Bangalore. Its HQed in SF, CA.

I know I might be hasting in this, but can we say a US company with its DC in India an Indian company?

But kudos to tutorvista in its funding and good work!

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