An online omnichannel fashion shopping and discovery platform Modestreet Internet has secured an undisclosed amount in a funding round. The round was led by angel investors Anshika Aggarwal, a chartered accountant and EY executive.
The funds so raised by the startup will be utilized to launch its operations in Delhi-NCR, Jaipur, Agra and Chandigarh and to strengthen its technology teams. These plans were stated by Abhitosh Yadav, the co-founder of the company.
Modestreet was founded by Abhitosh Yadav and Rohit Chhabra who both are alumni of the National Institute of Fashion. The startup offers an online and offline fashion retail platform which includes social networking and augmented reality services. The company also caters to businesses in the fashion retail space.
“As a community-driven platform, we are positioning Modestreet Fashion as a personalized experience for browsing, discovery and shopping while also acting as an omnichannel shopping aggregator for fashion businesses,” said Chhabra.
It was last month that Kishore Biyani-led Future Group stated that it will acquire a part of fashion e-commerce firm Koovs, as the brick-and-mortar retail conglomerate plans to step up its investments in online ventures.
These days the online fashion space is growing at a great pace and various companies are dominating this area, and it might be interesting to see whether these startups will give them a tough fight or not. A number of these firms have gained investor attention in the past few months.