Home / Knowledge / News / Fashion / Buttercups secures funds from Google India MD, others
Buttercups secures funds from Google India MD, others
05
Jan '18
Buttercups secures funds from Google India MD, others
After failing to complete the series-A round of financing, this time, lingerie startup Buttercups has been successful in securing funds from various existing and new investors including Google India managing director (MD) Rajan Anandan and an informal investor Chandra Chappadi. The company is yet to disclose the deal size of this round of funding.

Existing investors Kanwaljit Singh, founder of Fireside Ventures and Anand Chandrasekaran, former product head at Snapdeal, also participated in this round while Anandan funded the Bangalore-based startup through Lets-Venture, an online funding platform.

"Last year was tough for Buttercups after we failed to raise the series-A round. We were in the market to raise $1 million early last year, but investors were wary about the lingerie brand business and were concerned about scalability," media reports said quoting Buttercups CEO Arpita Ganesh.

The non-availability of funds in series-A affected the business badly. It led to drastic decline in sales by November last year, with the count going down to 100 per month from 400. The manufacturing base was also shifted to India from China and there was closing down of two fitting rooms in India, apart from cutting down the staff strength by around 25 per cent.

The company’s revenue of Rs 1.04 crore in FY17, as per filings with ministry of corporate affairs, have also been much lower than that of competitors such as Clovia and Zivame.

Now, the lingerie retailer is all set to launch its new range of bras in nursing, maternity and sports and is also looking forward to expand in other cities including Mumbai, Hyderabad, Delhi and Chennai. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search