StoreKing, an e-commerce company focused on rural customers, has obtained $16m from Axiata.
Axiata Digital, a subsidiary of telecoms firm Axiata, has invested $16m in India-based e-commerce business StoreKing, YourStory reported on Wednesday.
The deal marks the first time Axiata Digital has invested in an India-based startup.
StoreKing, founded in 2012, operates an e-commerce marketplace that operates physical kiosks across more than 1,200 towns for users to order products. The company is particularly targeting rural areas and offers a 6% to 10% commission fee to retailers who install a kiosk in their store.
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