Fashion portal Fynd raises $500Ok from Silicon Valley-based Rocketship – VCCircle

On-line style market Fynd, run by Shopsense Applied sciences Pvt. Ltd, has raised $500,000 in observe-on Sequence A funding from Silicon Valley-based enterprise capital fund Rocketship, an organization assertion mentioned.

The funding is an extension of the Series A round in March, whereby the corporate raised $500,000 from seed funding platform Enterprise Catalysts. In January, VCCircle exclusively reported that Fynd had secured an undisclosed quantity from Snapdeal’s former chief product officer Anand Chandrasekaran, Arvind SportLifestyle’s chief government Rajiv Mehta, and Livspace co-founder Ramakant Sharma.

Fynd will use the funds to strengthen its tech spine, optimise operations and improve buyer choices, the assertion added.

The Mumbai-primarily based firm sources merchandise, corresponding to attire, footwear and baggage, straight from close by shops and takes Four-24 hours to ship the order. Patrons can attempt the merchandise and return them if not glad. The corporate claims to have three.5 million types reside on its app and website, and plans to roll out one other three.5 million quickly.

Fynd was based in 2013 by Farooq Adam, Harsh Shah and Sreeraman MG. The identical yr, it raised an undisclosed quantity in seed funding led by Kae Capital, with participation from a gaggle of angels beneath Powai Lake Ventures and Jehaan Mehta.

In 2015, it raised an undisclosed quantity from present investor Kae Capital and Snapdeal founders Kunal Bahl and Rohit Bansal.

The corporate claims it receives stock information from over eight,000 shops in cities together with New Delhi, Mumbai, Bengaluru, Amritsar, Guwahati and Kochi.

Gurgaon-primarily based style and life-style discovery platform SummerLabel, which operates in the identical phase, raised Rs crore in seed funding in March.

Different gamers within the on-line-to-offline style phase embody Fashalot, which raised pre-Sequence A funding in April final yr led by YourNest Angel Fund and angel investor Rajul Garg.

In November 2016, Bengaluru-primarily based HyperKonnect Technolgies Pvt. Ltd, which owns purchasing app ShopsUp, raised $ million in seed funding from two particular person traders. The identical month, Paytm acquired on-line-to-offline retail firm Shopsity.

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