The operators of invitation-based shopping website Fashionandyou.com have raised about $40m from backers including Intel and Nokia.

E-commerce and digital marketing organisation Smile Group and Goldsquare Sales India, owners of India-based private sales website Fashionandyou.com, secured about $40m in financing on Tuesday last week from investors including corporate venturing units Intel Capital and Nokia Growth Partners.

Also investing in the round were investment firm Norwest Venture Partners and venture capital firm Sequoia Capital India, which previously invested $8m in Goldsquare in December last year. Investment group Trayas has also been mentioned as an investor by technology finance…