Online lingerie e-tailer, Zivame has secured an undisclosed amount of series A funding from IDG Ventures India and Indo-US Venture Partners. The Bangalore based company will use the funds to expand its portfolio beyond lingerie, improve the product catalogue, scale technology and operations, and create additional consumer touch points.
Co-founded by Kapil Karekar and Richa Kar in August 2011, Zivame boasts of upto 12000 SKUs from domestic and international brands like Jockey, Triumph, Amante, Enamor, Bw!tch, Inaya, Hanes, Hollywood Fashion Secrets, Lovable and many more.
Talking about the raised funds, CEO and Co-founder, Richa Kar said, “Zivame ensures that you can sit back and browse for your lingerie needs in your own time and space. We believe that every woman has a right to the perfect fit, regardless of her size and age and we do this by offering the widest range of sizes at the portal. Our USP is a consultative approach to modern retailing. The funds will be utilized towards providing top notch customer experience and making many more brands and product available for our customers, scaling our technology and operations and to create many more consumer touch points”.
The online store is owned and operated by Actoserba Active Retail Pvt Ltd and claims to offer a selection of over 200 lingerie styles including bridal lingerie, plus size lingerie, everyday wear, shapewear, lounge wear, nightwear, and swimwear.
This IDG Ventures fourth investment in last six months. It had invested $14Mn into Brainbees Solutions Pvt Ltd in February, it also invested $4Mn in Valyoo Technologies Pvt Ltd in October'11 and $3Mn in online fashion retailer - eShakti.com Pvt Ltd in August'11.
TC Meenakshisundaram, Managing Director, IDG Ventrures India Advisors, said, "Zivame is a leader in the category of lingerie which lends itself extremely well to ecommerce. This category has many successful companies globally. Zivame has one of the best team comprising varied experience in retail, technology and strategy. We believe that Zivame will be able to extend its lead significantly with this capital raise.”
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