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IDG Ventures backs India’s Myntra in US acquisition

Apr 30, 2013 • Katherine Steiner-Dicks

US-based publisher International Data Group’s (IDG) global corporate venturing unit has invested in Myntra, India’s largest online fashion and lifestyle store, to help it acquire virtual fitting room creator Fitiquette.

Alongside IDG Ventures in the round were hedge fund Tiger Global and venture capital firms Kalaari Capital and Accel Partners. Financial details for the investment and acquisition were undisclosed.

The company has raised more about $40m since its launch in 2007, according to news reports. Myntra, which has changed its…

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