Beauty and Wellness Startup Stylofie Bags Fund

Jaideep Mehta, MD- South Asia, IDC has invested an undisclosed amount in Gurgaon based beauty and wellness startup, Stylofie.

stylofieAs per the deal, Mehta will be joining Stylofie’s board of directors and will mentor the Stylofie management team.

Stylofie was launched in Gurgaon in Septermber 2015 as an online marketplace for beauty and wellness centers. It recently acquired its competitor Hyve in Bangalore, thereby onboarding 250 salons and a user base of more than 20,000 consumers.

The company is now working on expansion plans and at the same time, it is also focused on raising their next round of funding. Prateek Agarwal, Co-founder & CEO of Stylofie said, “We are all set for a tectonic shift in the beauty and wellness market. We are launching across Delhi NCR by end of this month and post that we will be raising our Series A funding. He added, “We have the 3 most important ingredients in place- the right team, a terrific technology platform and consumer appetite for our services. We are excited to have someone like Jaideep mentor us, as we embark on this long and exciting journey.”