Fashion marketplace Voonik has raised USD 20 million (around Rs 133 crore) in Series-B round of funding to scale up operations.
Sequoia Capital led the round with participation from Times Internet, Seedfund, Beenos, Beenext, Parkwood Bespin, Tancom Investments and Kunal Shah, it said in a statement today.
“The funds will enable Voonik to enhance customer experience, strengthen their personalisation engine, and to scale up Mr Voonik and Vilara,” the company said.
“Series A helped us in gaining scale, and now with this renewed investor confidence through Series B, we are all set to consolidate our leadership in fashion commerce,” co-founder and CEO Sujayath Ali Voonik said.
Launched in August 2014, The company has 10 million registered users, 8 million app downloads, 100 million annual gross merchandise value and 13 million annual revenue rate.
Nice to see Voonik brand becoming stronger … Our efforts to increase brand awareness is paying off … pic.twitter.com/WtvyWKFhU8
— Sujayath Ali (@sujayath) April 20, 2016
Recently, the company launched two other fashion platforms, Mr Voonik, an exclusive app for men fashion and Vilara, a market place for designers and boutiques.
Bengaluru based Voonik has also 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.