Zivame raises funding
Funds raised from IDG Ventures & Indo-US Venture Partners.March 15, 2012 | comments ( 0 ) |
Premium lingerie portal, Zivame.com, has announced Series A funding from IDG Ventures and Indo-US Venture Partners.
Banglore-based Zivame started operations in August 2011 and within six months of operations, it saw an overwhelming response from the customers by registering a 120% month-on-month growth. Visitors grew from a mere 6,000 in August to over 2.5 lakh in February.
T C Meenakshisundaram, Managing Director, IDG Ventrures India Advisors, says, "Zivame is a leader in the category of lingerie, which lends itself extremely well to ecommerce. This category has many successful companies globally. Zivame has one of the best team comprising varied experience in retail, technology and strategy. We believe that Zivame will be able to extend its lead significantly with this capital raise.”
Talking about the funding, Richa Kar, CEO, www.zivame.com, says, “In a highly dynamic industry, it is very important to find the right investors. In the lingerie industry, the most important word is "fit", and we have found ours in IDG and Indo US. In the last few months of our business, we have made lingerie from an optional part of a woman's wardrobe to a necessity and even indulgence. We have served several happy customers across the length and breadth of the country .This has also been possible with a more involved support from our brand partners. The funds will be utilised towards providing top notch customer experience and making many more brands and product available for our customers, scaling our technology and operations and to create many more consumer touch points. Our vision is to reach out to every woman in India and ensure that her most intimate purchase is a joyful experience.”
Vani Kola, Managing Partner, Indo US Venture Partners, says, "Zivame is clearly differentiated in its offering. The focus on content and consultation is unique to the industry. It is exciting to have Zivame in our portfolio of companies."
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