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Roposo raises $15 million from Tiger Global
18 Aug '15
2 min read
Gurgaon-based Relevant e-solutions Pvt Ltd, the startup behind fashion-focused social network Roposo.com, has raised $15 million (around Rs 98 crore) from existing investor Tiger Global Management, it said in a press statement.
The US-based investor had injected $5 million in the startup earlier in March.
The company will use the funds to strengthen its team, build technological infrastructure, enhance and revamp the product.
The app, which is available for Android and iOS users, claims that it has more than 1 million active users. The app helps users discover specific products from more than 300 web stores and 4,000 brands.
Roposo.com is the brainchild of three IIT Delhi alumni, Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank. Founded in December 2013, Roposo claims to offer fashion choices from across 300 webstores with categories such as apparels, footwear, accessories and lingerie. All products are curated and recommended for users as per individual tastes.
Discovery-led platforms are beginning to gain traction among young Indian consumers, especially in fashion, although, unlike the traditional e-commerce players, most of these ventures do not sell products directly to consumers. The basic proposition of this new tribe of startups is to generate user-generated content and build a social platform with a heavy focus on personalization, something even the older players like Myntra are starting to do after becoming app-only.
Tiger Global, which is one the most prolific investors backing the Indian consumer internet story, has also funded Limeroad — a social commerce venture which, unlike these discovery startups, also sells products through its platform. (SH)
The US-based investor had injected $5 million in the startup earlier in March.
The company will use the funds to strengthen its team, build technological infrastructure, enhance and revamp the product.
The app, which is available for Android and iOS users, claims that it has more than 1 million active users. The app helps users discover specific products from more than 300 web stores and 4,000 brands.
Roposo.com is the brainchild of three IIT Delhi alumni, Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank. Founded in December 2013, Roposo claims to offer fashion choices from across 300 webstores with categories such as apparels, footwear, accessories and lingerie. All products are curated and recommended for users as per individual tastes.
Discovery-led platforms are beginning to gain traction among young Indian consumers, especially in fashion, although, unlike the traditional e-commerce players, most of these ventures do not sell products directly to consumers. The basic proposition of this new tribe of startups is to generate user-generated content and build a social platform with a heavy focus on personalization, something even the older players like Myntra are starting to do after becoming app-only.
Tiger Global, which is one the most prolific investors backing the Indian consumer internet story, has also funded Limeroad — a social commerce venture which, unlike these discovery startups, also sells products through its platform. (SH)
Fibre2Fashion News Desk – India
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