Unamia, the Banglaore-based online kidswear brand, has secured US$ 1.2 million funding from Angel Prime and Blume Ventures to create world-class range of kidswear.
Unamia offers a range of kid-friendly wear that is soft, safe as well as stylish for newborns and younger children. It now targets to grow at 20 percent year-on-year in the estimated Rs. 380 billion kidswear market.
The company, founded by NIFT, IIT and Stanford graduates, would invest in manufacturing world-class kidswear that would be easily accessible to parents across India.
According to Jyotsna Pattabiraman, founder CEO of Unamia, the company aims to make some of the world’s best kidswear available to Indian children.
Blume Ventures and Angel Prime have built innovative, scalable and highly profitable online businesses in India and they have seen a potential in Unamia, Business Standard quoted Ms. Jyotsna as saying.
Karthik Reddy of Blume Ventures said the private equity firm believes that the e-commerce story in India is yet to unfold and hence it actively invests in companies like Unamia that have differentiated capabilities.
Unamia faces tough competition from other online apparel portals like fashionandyou, FirstCry, Hushbabies, etc.