Zivame, Indian online lingerie retailer has announced that it has raised Series C round of Rs 250 crore from Zodius Technology Fund and Khazanah National Berhad, the strategic investment fund of the Government of Malaysia. Existing investors Unilazer, IDG Ventures and Kalaari Capital also participated in the round.
The company plans to use the funds to continue dominating the category and provide a world class lingerie shopping experience to Indian women. The company also announced the launch of its app, the lingerie app for women in India.
Founded in late 2011 by Richa Kar, Zivame features over 5000 lingerie styles, where women can understand their lingerie needs, browse through styles, and get their order delivered at their doorstep.
In this space, Noida based Clovia (previously moodsofcloe.com) which is owned and operated by Purple Panda Fashion Pvt. Ltd., had raised series A funding from IvyCap Ventures in June. Other players which operating in similar segment are PrettySecrets, Cilory, Straps and Strings, ShopImagine, and BuyUnderCover as well as Jabong, OyeGirl, Yebhi, LimeRoad, Myntra, LadyBlush also have a dedicated section for it.