Bangalore: Elanic.in, the Bangalore based used-clothes marketplace, which is owned and operated by Elanic Services Pvt. Ltd., raises an undisclosed amount in seed round of funding from Rebright Partners. The round also witnessed the participation from Tracxn Labs and Aneesh Reddy – An angel investor and the founder of Capillary Technologies (a leading provider of cloud-based CRM solutions). The company will utilize the funds to expand its areas of operation to other cities across India.
Founded in 2015 by Palkush Rai Chawla, Abhilash Narahari and Aditi Rohan, Elanic is India’s first and the social platform for buying and selling of gently used clothes & accessories. It is currently a women-only platform and operates only in Bangalore. It is a mobile app-based platform that enables the users to sell their used fashion brands to buyers. It also offers clothing, footwear and accessories at prices that are 70 percent lower than the original prices of the products.
The sellers must upload few photos of the item they are willing to sell through Elanic’s Android app and the rest is taken care by Elanic. It calls the seller and schedules a pick-up. Once the items are picked by the Elanic team, they undergo thorough quality checks, brand credibility and are then washed and sanitized before being dispatched to the buyers. To generate revenues, the company takes 25 percent commission on each sale.