Online lingerie retailer Zivame has said it has raised Rs 250 crore from Zodius Technology Fund, Khazanah Nasional Berhad and other existing investors, according to an agency report.
The Series C round also saw participation from existing investors Unilazer, IDG Ventures and Kalaari Capital. Zivame has so far raised about $8 million in series A and B funding since it was set up in late 2011.
Zivame founder and CEO Richa Kar said the funds would be used to raise awareness about the category and company, ramp up the technology platform, enhance consumer experience on mobile phones and set up fitting stores across the country.
Within the next three years, Zivame plans to set up 100 such stores across top 10 cities, where women can come in to get fitted and know their body types to make informed purchasing decisions, she added.
The company has recently launched its mobile app. A majority of Zivame's sales (about 55 per cent) are ordered from mobile phones and that prompted the company to launch the mobile app, Kar said. (SH)
Fibre2Fashion News Desk – India