23 Jun. 16, MUMBAI: Online based lingerie platform – Prettysecrets raises $5.9 million form its investors RB Investments Pte. Ltd and its existing investor Orios Venture Partners, according to two people who were aware about the matter and spoke with the condition of anonymity.
The company had earlier raised funding in September 2014, after it raised $2 million from Orios Venture Partners, early-stage investor India Quotient among others. The company had also raised capital prior to this from Indian Angel Network and Harvard Business Angels.
“The initial plan was to raise a larger round, around $10 million, but given the tough fund-raising environment, they decided to cut back on the size of the fund raise. the latest fund-raise is sufficient to take the company to break-even by the end of this financial year,” said the second person cited above who also requested anonymity as both of them were not authorised to speak to the Media.
PrettySecrets was founded in 2011 and is operated by MTC Ecom Pvt. Ltd. the company was founded by Karan Behal. PrettySecrets has a catalog of more than products. The brand offers lingerie, sleepwear, swim wear, shape wear & active wear. In addition to its flagship site PrettySecrets.com, the brand is available on leading web stores like Flipkart, Myntra, Jabong, Amazon, etc. Also, the Products are shipped across the country discretely. The brand is also available for retail at select offline stores through the company’s wholesale website psretailer.com.
Image – sv.tie.org