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AMJ Ventures invests in fashion-tech firm StyleCracker

23
Nov '19
Pic: StyleCracker
Pic: StyleCracker
US-based investor AMJ Ventures has invested $2 million in Bollywood actress Alia Bhatt-backed fashion-technology start-up StyleCracker, which will use the funds to build further capabilities in machine learning and strengthen its moat on the personalisation front, StyleCracker co-founder and managing director Dhimaan Shah said in a statement recently.

The fashion-tech start-up will use the funds to build further capabilities in machine learning, strengthen its moat on the personalisation front and build a strong pan-India presence, according to a news agency report.

StyleCracker has grown rapidly since its inception at a compounded annual growth rate of over 150 per cent and is on track to grow the business over 250 per cent in this fiscal after this round of funding, Shah said.

The rapid growth is complemented by healthy economics with the company turning profitable at a unit economic level, he added.

Fibre2Fashion News Desk (DS)


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