IDGVI News: Media Coverage 2013 gets $6 m funding from PE firms

Business Line | 11 Dec, 2013

By Our Bureau

New Delhi, Dec 11:, India’s largest lingerie destination has received a Series B Funding Investment worth $6 million. This round has been raised from Unilazer Ventures Private Limited, a strategic private equity investments company promoted by Ronnie Screwvala, and existing investors, IDG Ventures and Kalaari Capital Partners.

Bangalore-based, founded and led by Richa Kar, a BITS Pilani& NMIMS Alumnus, has pioneered the online lingerie category in India. The primary reason to set-up was to give its consumers the much needed privacy and accessibility when shopping for intimate wear. Today, is helping an increasing number of women to move from brick-and-mortar to the experience of online shopping.

With operations just a little over 2 years, the brand experiences over a whopping 50% repeat purchases every month. During the 1st year of operations, the brand witnessed a phenomenal growth of 400% and is aiming at online sales of Rs1000 crore in the next 4-5 years.