Bangalore-based online kids wear brand Unamia has raised $1.2 million in seed round funding from Blume Ventures and Angel Prime. The company targets the Rs 38,000 crore kids wear market by creating a world-class range of kids wear and building deep engagement with customers. Demand for kids wear is growing by 20% year over year.
Unamia founded by NIFT, IIT and Stanford graduates, aims to make world-class kids wear accessible to parents across India, especially moms, who want quality at par with international standards with pricing that is reasonable.
According to Founder-CEO of Unamia, Jyotsna Pattabiraman “Angel Prime and Blume Ventures can be credited with building innovative, scalable and highly profitable online businesses across India. They understand the opportunities and challenges involved in building a company. These investors have backed and been part of huge successes and it’s heartening that they see the potential in us.”
Also Karthik Reddy of Blume Ventures expressed his views saying that “At a time when me-too e-commerce sites are running out of options, Blume believes that the e-commerce story is yet to be told.” Adding to this he also said “We are actively investing in companies that have differentiated capabilities, like Unamia. We are delighted to have Unamia join the Blume family”.
Shripati Acharya of AngelPrime also commented on the occasion, according to him “Macro trends are firmly in Unamia’s favour. With a huge yet fragmented market, the kids wear industry requires radical innovations in product development and retail. Unamia’s co-creation model may well hold the key”.
Category Investments News