By Aparna Ghosh
The funding will be utilized to build new categories and reach out to women across the country
Bangalore: Zivame.com, which sells lingerie on the Internet, has received a series B funding of $6 million from Unilazer Ventures Pvt. Ltd along with existing investors IDG Ventures and Kalaari Capital Partners.
Founder and CEO Richa Kar launched the Bangalore-based company in August 2011 in order to give customers the privacy they needed to shop for lingerie, encouraging women to move away from traditional brick-and-mortar undergarment shopping.
Unilazer Ventures is a strategic private equity investments company promoted by Ronnie Screwvala. Existing investors IDG Ventures and Kalaari Capital Partners, who invested a total of $3 million in Zivame.com early this year, also took part in this round.
“In e-commerce, we look at verticals that have the scope to grow exponentially and ability to build product brands in a fragmented market, and in the case of Zivame, we feel the segment is very scalable and lends to private and one-on-one shopping to Indian women—a fast growing segment of consumers,” said Screwvala.
The funding will be utilized to build new categories and reach out to women across the country.