Zivame, a Bangalore based Lingerie eCommerce portal has reportedly raised USD 6 million from UTV founder and entrepreneur – Ronnie Screwvala’ Unilazer Ventures.
According to the reports, Unilazer Ventures is investing most of the cash, while existing investors too are participating in this round. Moreover, Zivame will be using a part of funding raised in marketing and further development of its platform by improving its personalization, recommendations and visual merchandising.
Unilazer Ventures earlier invested in Valyoo Technologies, Ini Farms, Micro Housing Finance Corporation Limited and more.
Prior this funding, Zivame has completed a series of funding rounds including the recent USD 3 Mn from IDG and Kalaari Capital. Last year, it raised Series A funding from IDG Ventures and Indo-US Venture Partners.
Founded by BITS Pilani alumni Richa Kar, the company started its operations in June 2011 and deals in lingerie, loungewear, swimwear, nightwear and allied categories.
Online lingerie shopping, as a trend is picking up in India. Other than Zevame, there are quite a few players operating in the space now including PrettySecrets, StrapsAndStrings, ShopImagine and more. Other than focused lingerie and women portal like those mentioned above, eCommerce majors like Myntra, Flipkart and Jabong also offer a dedicated lingerie section.
Moreover according to reports, innerwear as a category is the highest growing market in the women’s apparel segment growing at 15% year on year. Out of the overall lingerie market in India, which currently pegged at about INR 5,000 crore – the online market is expected to be about Rs 600 crore by 2016.
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