Friday, April 12

Sequoia Capital Backed Fashion Marketplace Startup Voonik Acquires 3 Startups

Voonik, a Sequoia Capital-backed fashion marketplace startup which is focused on curated fashion has acquired three startups to build its premium fashion product Vilara. Voonik is attempting to strengthen its leadership in the unbranded fashion segment largely via acqui-hires or team acquisitions of startups in niche fashion offerings.

Bengaluru based Voonik has now acquired five startups in the past six months. It raised $5 million funding from Sequoia Capital and SeedFund last year. It has claimed $100-million run rate and is aiming to grow four-fold in GMV by the end of this fiscal.

The three companies are online marketplace for designers and boutiques Zohraa, which has a 12-person team, the eight-person team at online silk store Picksilk.com and the nine person team at Styl, which connects stylists and salons with consumers.

A month back, the company acqui-hired menswear focused fashion portal Getsy leveraging on whose expertise, Voonik forayed into the menswear segment with its app, Mr Voonik.

It also lapped up four people from the ten-member team from online apparel rental startup Klozee, which shut down operations in January this year.