A woman-centric lifestyle & content platform, ‘POPxo’, has raised an amount of $2 million (about Rs 13 crore) in Series A round of funding from IDG Ventures India, Kalaari Capital and 500 Startups.
Raised funds will be used to hire talent for expansion of its content operations in both English and Hindi, to build new features for its mobile application, establish new verticals and scale up the video production.
Launched in May 2014 by Priyanka Gill and Namrata Bostrom, the Delhi-based startup taps on South Asian women for its content, also provides fashion products on its platform.
On November 2014, the startup had raised $500K in its angel round of funding from a group of investors including Google India chief Rajan Anandan and CaratLane’s Mithun Sancheti.
The startup targets women between the ages of 18 to 34, on subjects related to fashion, beauty, lifestyle and issues that they face in their daily lives. It claims to have a readership of 30 lakh a month and the its app is available on bothe the major mobile platforms (iOS & Android)
The company has plans to develop on its technology and increasing its editorial team to 60 through the funds.
Many new startups have been launched in this segment like OoWomaniya, which is basically a digital platform focusing on health and issues related to women. They are one of the potential competitors POPxo could face in the near future.