Wednesday, October 4

Fynd Raises $3.4 mn From IIFL Seed Ventures and Others

Fashion e-commerce company Fynd today said it has closed a funding of USD 3.4 million with participation from IIFL Seed Ventures, Venture Catalyst and others.

Of the total amount, IIFL Seed Ventures has invested USD 2.4 million.

The series A round also saw active participation from Kae Capital, FJ Labs, Singularity Ventures, GrowX, Traxcn Labs and Hong Kong-based Axis Capital, Fynd said in a statement.

The company will use the funds to accelerate growth, enhance consumer base, strengthen technology backbone and optimise operations, including marketing strategies, it added.

Fynd had earlier raised USD 500,000 from Venture Catalysts in March and a similar amount from Silicon Valley- based Rocketship in May as part of series A round.

“Our vision is to revolutionize the online and offline shopping experience across all channels and customer touch- points and reach out to more customers in coming months,” Fynd co-founder Harsh Shah said.

He added that the funding will help further bolster the companys growth trajectory and enhance technology capabilities.