UditKanvas Consultancy, which is a Mumbai based startup that owns the personal styling and e-commerce platform StyleCracker, has now secured $2 million in the funding round of seed from the US-based AMJ Ventures. This is, as of now, one of the largest amounts the company has secured in the single funding round.
Previously, the startup had secured $0.6million in a two separate funding round from the clutch of angel investors, which includes the Actor Alia Bhatt and others.
The company will now be going to use the funds to deepen the marketing and technology, said the announcement.
“The funds will also be used to build a strong pan India presence and move even closer to being the stylist to every Indian. StyleCracker has grown rapidly since inception at a compounded annual growth rate of over 150% and is on track to grow the business over 250% this financial year,” said Dhiman Shah, co-founder of Stylecracker.