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Women's fashion portal Voonik raises $5 million
11
Jun '15
Bengaluru-based, Voonik, a fashion curator, has raised $5 million in Series A funding from Sequoia Capital and Seedfund. The funding will help the company to enhance their personalisation and style recommendation technology, it said in a statement.

The startup was founded in 2013 by Sujayath Ali and Navaneetha Krishnan. Voonik offers multiple stores on a single platform and lets consumers shop in a single checkout.

The mobile app was launched last year and has hit more than 1 million downloads currently. On an average, the app registers close to 2,500 purchases daily from 1,500 unique customers.

Speaking about the fund raising, Sujayath Ali, CEO and Co-founder of Voonik said, “While e-commerce portals have been extremely popular, we have observed m-commerce is increasingly becoming the de facto mode for making transactions. With the ubiquitous smartphone getting cheaper, along with better connectivity, we believe mobile is the future of commerce. With this funding, we will be focusing on innovations that would enhance our mobile platform and provide an unmatched shopping experience to our users. We are glad to partner with Sequoia and Seedfund, and are certain that their combined experience and knowledge will help us build a strong company.”

Unlike the traditional e-commerce business models, Voonik is powered by an in-house personal shopping platform that makes recommendations to shoppers based on their profile and preferences. (SH)

Fibre2fashion News Desk – India


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