Bangalore: Bangalore based India’s fastest growing fashion shopping app for women, Voonik launched its mobile app last year, which has rapidly grown to 1 million plus downloads, and on an average registers close to 2,500 purchases daily from 1,500 unique customers. Breaking away from the conventional e-Commerce business model, Voonik is powered by an in-house personal shopping platform that makes recommendations to shoppers based on their profile and preferences.
On the other hand, the company also announced to raises $5 million in Series A round of funding from Sequoia Capital and Seed fund. The fund will be utilized to enhance their personalization and style recommendation technology.
Founded in 2013 by Sujayath Ali and Navaneetha Krishnan, Voonik is India’s first personal shopping app which allows users to buy what suits their body, lifestyle and budget. It offers multiple stores on a single platform and lets consumers shop in a single checkout. With over half a million SKUs, the company is one of the largest stores of its kind offering apparel, accessories and footwear as well as beauty products.
Speaking about the funding, Sujayath Ali, Co-Founder & CEO, Voonik says, “While e-commerce portals have been extremely popular, we have observed m-Commerce is increasingly becoming the de fact mode for making transactions. With the ubiquitous smartphone getting cheaper, along with better connectivity, we believe mobile is the future of commerce. With this funding, we will be focusing on innovations that would enhance our mobile platform and provide an unmatched shopping experience to our users. We are glad to partner with Sequoia and Seed fund, and are certain that their combined experience and knowledge will help us build a strong company.”
Shailendra J Singh, Managing Director, Sequoia Capital India Advisors says, “Voonik is a next generation business model, which has created a ‘lean marketplace’ for fashion that allows users to discover personalized apparel from dozens of other e-Commerce sites. So people can shop on the Voonik app and mix and match from styles and SKUs across other sites like Jabong, Fashionara, Zovi, and so on. This allows Voonik customers to get personalized recommendations from across e-stores in a single app. This is resulting in terrific user engagement, retention and growth at Voonik. We are delighted to partner with Sujayath and Navneetha in their journey to redefine fashion e-Commerce.”