Zivame, the online lingerie retailer, has raised Rs 60 crore in its Series C funding round. This bridge round has been led by Zodius Technology Fund and a group of high net worth individuals.
The latest fund infusion will be followed by a larger round later in 2019. With this funding, Zivame will further enhance its retail footprint and leadership in existing and newer markets. The fresh capital will be used for ongoing retail expansion, augmentation of technology, product development and strengthening the company's omnichannel strategy.
Presently, Zivame has more than 30 retail stores. The retailer is planning to expand to over 60 in a year.
The company targets at strengthening its presence in major malls and high streets with a special focus on tier-I cities. It will be focusing on metros such as Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, and cities like Chandigarh, Pune, Kochi, Mysore and others.