UditZivame, which is a lingerie ecommerce startup has now secured Rs 60 crore in the funding round from some of the existing investors.
The existing investors include the Zodius Technology Fund led with some of the high net worth people that also participated in the extended Series C round.
The company will now be going to use the fresh funds to boost up its technology, retail, omnichannel, and product development as well. The company also has a plans to raise a larger round later in the year.
“We continue to build the category as the Indian lingerie market is largely unorganized and under-served,” said Amisha Jain, chief executive officer of Zivame.
Zivame which was founded by the Richa Kar in 2011 who also previously worked with the SAP.
The company provides the lounge wears, lingerie, nightwear, swimwear, and allied categories. It also recently added some of the new categories like the fashion apparel to its offerings.
Zivame has a wide range of private labels which includes the Cocucou and Penny, and around more than 70% of its revenue comes from the in-house products.
It has now also adopted an approach of omnichannel and has a presence at more than 30 physical stores with the plans to double that number in the years’ time.
Picture Credits: Zivame