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Voonik acquires 3 startups for premium fashion platform
08
Jun '16
Courtesy: Voonik
Courtesy: Voonik
Sequoia Capital-backed fashion marketplace Voonik has acquired three startups - Zohraa, Picksilk.com and Styl -to build its premium fashion platform Vilara. The company has now acquired five startups in the past six months.

Bangalore-based Voonik, which is focused on curated fashion, is attempting to strengthen its leadership in the unbranded fashion segment largely via acqui-hires or team acquisitions of startups in niche fashion offerings.

Voonik's core app is focused on women with 8 million app downloads, 10 million registered users and highest engagement among shopping apps. In contrast, Vilara will be a one-stop place to shop from thousands of premium boutiques and independent designers.

Founded in 2013 by Sujayath Ali and Navaneetha Krishnan, Voonik is a personal shopping app for women, which allows them to buy apparels from multiple stores, according to their body type, lifestyle and budget.

Sujayath Ali, CEO Voonik said “We are very excited about Vilara and the idea of bringing over 1000 boutiques in one place. We have been able to acqui-hire a talented bunch of entrepreneurs, with the right expertise to help us strengthen the Vilara offering.”

Zohraa.com was founded in June, 2012 by IIM-Ahmedabad, Washington University and New York University graduates Sanjeev Jain (CEO), Pramod Rathi (COO), Vibhor Tikiya (CXO) and Darshit Hirani (CTO) respectively. It is an online occasion-wear brand with a high emphasis on curation, sells ethnic wear and designer wear products. Zohraa has a team of 12 members.

Styl was founded as a platform to connect salons and stylists and consumers, through an app. Both the founder Anup Mohan and Srikant Ch were part of founding team of Lookup earlier. Styl has a team of 9 members.

Picksilk.com is an online silk store with 10,000 plus handloom saree collection, was founded by Shivakumar Kancharla and Hareesh Vemala. It aims to empower weavers through technology and transform the industry by making it more demand oriented by mapping manufacturing to the actual customers' choices rather than to the weavers' convenience and resources.

In June 2015, Voonik secured $5 million funding led by Seedfund and Sequoia. Prior to this, the startup had also raised $390,000 (Rs 2.5 cr) from Seedfund. (SH)

Fibre2Fashion News Desk – India


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