Ankit Nagori invests in fashion start-up Wooplr – Livemint

Bengaluru: Fashion discovery platform Wooplr Applied sciences Pvt. Ltd has raised an undisclosed quantity in funding from Ankit Nagori, co-founding father of healthcare start-up CureFit and former chief enterprise officer at Flipkart Ltd. Nagori will be a part of Wooplr’s board following the funding, the corporate stated on Wednesday.

“Ankit has seen the evolution of our social commerce platform and his becoming a member of the board at this level is, for us, positively an enormous win for Wooplr. His huge expertise of constructing India’s largest fashion market at Flipkart made him the best particular person to have alongside on our journey, to vary the best way fashion discovery is completed,” Arjun Zacharia, founder and chief government officer at Wooplr, stated in an announcement.

The most recent capital infusion comes barely two months after Wooplr raised $eight million in a funding spherical led by Sistema Asia Fund. Amereus Group, and current investor Helion Ventures additionally participated in the spherical.

Final 12 months, the corporate raised an undisclosed quantity in two tranches from InMobi founders Naveen Tewari, Abhay Singhal, and Amit Gupta; InMobi chief product officer Piyush Shah; TaxiForSure co-founder Raghunandan G.; former chief government of Puma India, Rajiv Mehta; Astarc Ventures, and Fb Inc. government Anand Chandrasekaran, who was earlier the chief product officer at e-commerce market Snapdeal.

Earlier, it had raised $5 million in a Collection A spherical from Helion Ventures in January 2015.

Launched in 2013 by Zacharia, Praveen Rajaretnam, Soumen Sarkar and Ankit Sabharwal, Wooplr is a shopper content material-pushed market, the place customers add photos in their outfits. Different customers can have interaction with the picture, by liking it, following the person, discover manufacturers that are promoting related outfits and make a purchase order from the cellular app or Wooplr’s web site.

The corporate makes cash by charging 40% of the order worth as fee from the manufacturers.

“Wooplr’s concentrate on choose fine quality fashion manufacturers is a step in the best course. What excited me about Wooplr is the truth that they're constructing a essentially distinctive market that mixes the influencer-led format of buying and the invention of distinctive new manufacturers. I see that manufacturers are significantly altering their advertising methods and influencers have gotten an vital a part of this new method to succeed in out a younger and dynamic viewers,” Nagori stated in an announcement.

The Bengaluru-based mostly firm claims to have three million customers. About .5 million of those are energetic customers, and three-5% of the full customers add photographs. About 10,000 of such customers are thought-about influencers, who've at the very least 5,000 person followers, who often add photographs and have interaction with customers. The corporate is aiming to extend its influencer neighborhood to over 50,000 by December 2017.

The vast majority of the customers are from Bengaluru, Delhi and Mumbai, producing 200,000 posts per 30 days.

Wooplr additionally monetizes by having manufacturers work with influencers. The corporate has 200 model partnerships together with FabAlley, Nykaa and Yellow Hanger amongst others, with influencers selling merchandise from these manufacturers.

Wooplr competes with Tiger World-backed Limeroad and Roposo and Sequoia Capital-backed Voonik Applied sciences Pvt. Ltd, amongst others.

First Printed: Thu, Apr 20 2017. 05 51 AM IST

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Ankit Nagori invests in fashion start-up Wooplr - Livemint