Zivame, an online lingerie retailer, has raised Rs 60 crore in its latest series C funding round. This 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.
Amisha Jain, Chief Executive Officer, Zivame, said, "The funding will enable us to further enhance our footprint and leadership in existing and newer markets as we continue to build on our mission to be the destination for women for all her intimate needs. We continue to build the category as the Indian lingerie market is largely unorganised and under-served."
"The funds would be used for ongoing retail expansion, augmentation of technology, product development and strengthening Zivame’s Omnichannel strategy," she added.
Presently, Zivame has more than 30 retail stores. It is aiming to expand to over 60 outlets in a year. The lingerie retailer further targets to strengthen its presence in major malls and high streets with a special focus on tier-I cities.