Bengaluru: In an orthodox country like India, women often feel paranoid to go to a lingerie store to buy their accessories. They also don’t have much options and designs when it comes to selecting lingerie. This has paved way for online lingerie portals like Zivame, Clovia and PrettySecrets who are competing with each other to capitalize in this market; and the investors too are readily investing in these startups.
In the fresh round of funding in this lingerie world, Zivame raises Rs.250 crore in its Series C fundraising activity led by Zodius Technology Fund and Government of Malaysia’s investment fund – Khazanah Nasional Berhand. Its existing investors Unilazer, IDG Ventures and Kalaari Capital also made substantial contributions to this round. The company plans to shell-out the fresh capital to enhance its product & technological offering and develop innovative products. On the occasion, the company also launched its mobile app, the first lingerie app dedicated exclusively to Indian women.
This is Zivame’s third fundraising. Prior to this, the company had raised $6 million in its Series B round from Ronnie Screwvala, IDG Ventures, Kalaari Capital & Unilazer Ventures and $3 million in its Series A round from IDG Ventures India, IndoUS Venture Partners and Kalaari Capital in 2013 and 2012 respectively.
Owned and operated by Actoserba Active Wholesale Pvt. Ltd., Zivame was founded by Richa Kar, a BITS Pilani alumnus. It is an online lingerie store which offers lingerie, loungewear, swimwear and nightwear featuring hundreds of styles for Indian women. The customers can easily browse through a wide range of products and refine their search based on their preferred size, brand and colour. Since its inception in 2011, the company came into limelight by offering innovative services like ‘Try at Home’ & ‘Fit Consultants’ and also claims to have a 12,000 square foot warehouse facility which is capable of processing delivery orders within two hours.