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Myntra raises $25 mln

To empower backend and expand reach.

Tags: retail, retailer, myntra, e-retailer, $25 million

June 03, 2013  |  comments ( 0 )  | 
Myntra raises $25 mln

Myntra, as a part of its expansion plans, has raised around $25 million investment from its existing investors including Tiger Global and Accel Partners among others. The funds will be used to improve its back end infrastructure and expand operations across the country. According to Co-Founder Ashutosh Lawania, nearly 8-10 per cent of the sales will be invested in brand promotion and the focus will now reach to tier II cities. Currently, Delhi NCR contributes nearly 15 per cent of its total sales as the e-retailer sells products worth Rs 15,000 every day.Myntra has till date raised around $65 million investment, and apart from this the company has previously invested $21 million in Feb 2012, $14 million in March 2011 and a $5 million in November 2008.

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