Apparel Online India Magazine March 1st Issue 2019 | Page 82

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T
12
CLOVIA
13
S TA L K B U Y LOV E
he Delhi-based start-up was
founded in 2013 by husband-wife
duo Neha Kant and Pankaj Vermani
along with Suman Choudhury. The
brand is a lingerie and sleepwear brand
that designs, manufactures and sells
premium fashion lingerie, innerwear,
nightwear and shapewear. This year,
it has raised US $ 10 million in a
Series-B funding by AT Capital. The
other existing investors include Ivy Cap
Ventures and a few private investors.
Prior to this, it raised funds from
IvyCap Ventures; Singularity Ventures;
Ravi Dhariwal, Ex-Chief Executive of
BCCL and Mountain Partners.
O
wned and operated by
Ad Victoriam Ventures,
StalkBuyLove was founded in 2012
by Tushar Ahluwalia and Nishrit
Shrivastva. It sells fashion apparel
and accessories for women, through
its website and mobile application.
Last year, it raised around Rs. 20.42
crore (US $ 2.96 million) funding from
a clutch of new and existing investors.
Apart from the existing investors
such as Kalaari Capital; Singularity
The US $10-million funding
will be used for product and
technology development,
scaling up the brand portfolio,
expanding abroad, increasing
operational efficiency and
strengthening the team.
Apart from e-commerce
channels, Clovia has 12 exclusive
stores and over 100 sales touch
points across India, and sells over
5,00,000 units a month.
Ventures; Germany’s VCDE Venture
Partners and Kabs Ventures, the
new investors were Germany-based
Blue Dynamic and Hong Kong-based
Integrated Asset Management (Asia).
In 2017, the fashion brand raised
US $ 1 million in venture debt from
Trifecta Capital to strengthen its
supply chain technology and expand
its team. Similarly, in December 2016,
it raised a Series-A round of equity
funding led by Kalaari Capital.
B
14
BUTTERCUPS
engaluru-based online lingerie
start-up Buttercups was founded by
Arpita Ganesh in 2013. The company
raised an undisclosed amount of funding
from Google India MD Rajan Anandan
and angel investor Chandra Chappadi.
Existing investors Kanwaljit Singh and
Anand Chandrasekaran also participated
in the round. Till date, the start-up has
raised US $ 1.2 million (Rs. 7.6 crore).
Buttercups had originally secured an
undisclosed amount of Seed funding in
June 2015, led by Kanwaljit Singh, Angie
Mahtaney and others. In August 2016,
the online lingerie brand raised fresh
funding from Snapdeal’s ex-CPO Anand
Chandrasekaran and existing investors
Kanwaljit Singh and Manoj Varghese.
82 Apparel Online India | MARCH 1-15, 2019 | www.apparelresources.com