Lingerie retailer Clovia raises $4 million

Noida-based lingerie and sleepwear startup, Clovia has raised $4 million from existing investor IvyCap Ventures and Singularity Ventures amongst others. Clovia, founded in 2013 by husband-wife duo Neha Kant and Pankaj Vermani and others, plans to use the new capital for marketing, expanding its sales channels, and boosting product and technology development. The company, which attracts more than 1.5 million visitors to its website every month, registers nearly 80% of its sales on its mobile website and app.