The company has also acquired Styl, a Bangalore-based startup that lets users make appointments with salons and spas through its mobile app
India’s online fashion marketplace Voonik has raised US$20 million in Series B round of funding, led by Sequoia Capital.
Times Internet, Seedfund, Beenos, Beenext, Parkwood Bespin, Kunal Shah, and Tancom Investments (the investment unit of Singapore’s diesel parts & technical supplies company Tancom) also participated.
The funds will enable Voonik to enhance customer experience and strengthen its personalisation engine. A portion of the investment will also go into the scaling of its new products Mr Voonik and Vilara.
This brings the company’s total funding raised till date to US$27 million. Previously, Voonik has raised two round of funding — US$500,000 in seed and US$6.5 million in Series A.
Separately, the company has acquired Styl, a Bangalore-based startup that lets users make appointments with salons and spas through its mobile app. Last September, Styl raised US$110,000 in angel funding from a group of unnamed angel investors.
Launched in August 2014, Voonik is a e-commerce startup working in the unbranded fashion category, with 10 million registered users and 8 million app downloads. Recently, the company launched two other fashion platforms — Mr Voonik, an exclusive app for men fashion, and Vilara, a marketplace for designers and boutiques.
On the supply side, Voonik has over 1.5 million products from more than 15,000 sellers.
Sujayath Ali, Co-founder and CEO, Voonik, said: “Within just three years of inception, we have become the fastest growing fashion company in India. We have the highest engagement and conversion in the fashion industry. Our other two ventures are already paying off — Mr Voonik has crossed 5,000 shipments a day and Vilara is getting good traction from both high end users as well as from many designers & boutiques. This funding has happened at a very opportune moment.”
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