On-line trend market Fynd, run by Shopsense Retail Applied sciences Pvt. Ltd, has raised $500,000 (Rs three.three crore) from seed funding platform Venture Catalysts in its Collection A spherical of funding.
Fynd will use the capital to boost its client choices and strengthen its model technique, the corporate mentioned in an announcement.
The Mumbai-based mostly firm sources merchandise instantly from close by retailers and takes 4 hours to 24 hours to ship the order. Consumers can attempt the merchandise totally free and return these if they don't seem to be glad. Fynd’s merchandise embody ethnic put on, sneakers, luggage and clothes.
Fynd was based in 2013 by Farooq Adam, Harsh Shah and Sreeraman MG. The identical 12 months, it raised an undisclosed quantity in seed funding led by Kae Capital, with participation from a bunch of angels below Powai Lake Ventures and Jehaan Mehta.
In 2015, the corporate raised an undisclosed amount from Kae Capital and Snapdeal founders Kunal Bahl and Rohit Bansal. In January this 12 months, VCCircle reported that Fynd had raised an undisclosed quantity of funding from former Snapdeal government Anand Chandrasekaran, Arvind SportsLifestyle Ltd CEO Rajiv Mehta and Livspace co-founder Ramakant Sharma.
The corporate claims it receives stock information from over eight,000 shops in cities together with New Delhi, Mumbai, Bengaluru, Amritsar, Guwahati and Kochi.
In an analogous section, Gurgaon-based mostly trend and way of life discovery platform SummerLabel raised Rs crore in seed funding from prosperous people earlier this month.
Different gamers within the on-line-to-offline trend section embody Fashalot, which raised pre-Series A funding in April final 12 months led by YourNest Angel Fund and angel investor Rajul Garg.
In November 2016, Bengaluru-based mostly HyperKonnect Technolgies Pvt Ltd, which owns procuring app ShopsUp, raised $1 million in seed funding from two particular person buyers. The identical month, Paytm acquired online-to-offline retail firm Shopsity.
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