Mumbai-based MTC Ecom Pvt.Ltd that owns online lingerie platform Prettysecrets.com, is in talks to raise Series B round of funding in the coming month.
Although the exact amount has not been disclosed, Business Line reports that the sum would be around Rs 90-100 crores. Earlier, the company had raised Series A of Rs 12 crores from Rehan Yar Khan’s Orios Venture Partners accompanied by Indian Angel Network (IAN) and investor India Quotient.
The company looks forward to utilize the latest funding to better its supply chain, launch mobile application, expand into new product categories, and also to step into the international market. The company has allied with Souk.com in UAE and now wants to make its presence felt in Saudi Arabia, Egypt and seven more countries in the Middle East and a few in South East Asia in the next four to six months.
Further, increasing its sales 15-20 times by the end of this year is on the company’s agenda.
PrettySecrets was founded in 2012, basically dealing in lingerie, sleepwears etc. It started by retailing through departmental stores such as Shoppers Stop and Pantaloons, and later jumped onto the eCommerce sector.
MTC Ecom also retails its products on 12 other eCommerce platforms, including Zivame, Jabong, Myntra etc., and enjoys 15% market share in the online lingerie market as per the company.