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#Asia Indian O2O startup Fynd brings latest in-store fashion online; raises US$500K from Rocketship


Rocketship is a Silicon Valley-based VC firm founded by Junglee founders Venky Harinarayan and Anand Rajaraman

The Fynd founding team

Mumbai-based O2O fashion e-commerce startup Fynd (not to confuse with Singapore’s on-demand mobile device repair platform Fynd) has received US$500,000 in follow-up round from Silicon Valley-based VC firm Rocketship to take its total funding from Series A to US$1 million.

Last month, the startup raised US$500,000 from Venture Catalysts.

Fynd will use the funds to strengthen its tech backbone, optimise its operations and further enhance its customer offerings as well as strategies. It will leverage the VC firm’s expertise in data mining and machine learning capabilities to emerge as a household name in the fashion e-commerce space.

Also Read: With an aim to become a full-fledged O2O platform, KFit Group acquires Groupon Malaysia

Co-founder Harsh Shah said: “Rocketship is the perfect match to help take Fynd to its next level of growth. The VC firm will help create value for Fynd by regularly monitoring our data, comparing it with our competitors and the market and sharing their insights with us.”

The Series A funding comes close on the heels of an investment from Snapdeal’s former Chief Product Officer Anand Chandrasekaran; Rajiv Mehta, CEO of Arvind Sports Lifestyle; and Ramakant Sharma, former VP (Engineering) at Myntra and Co-Founder of Livspace.

Founded by Shah, Farooq Adam, and Sreeraman MG, Fynd is a fashion e-commerce platform that brings the latest in-store fashion online. The O2O company directly sources products across various categories including clothing, footwear, jewellery and accessories, from the most prominent brands in the country. Fynd claims its integrated system allows for speedy delivery within four to six hours, and a complete assurance of product quality.

Currently, Fynd has 3.5 million styles live on its app and website, and soon plans to roll out 3.5 million units more.

Rocketship leverages data science and machine learning to identify companies with a sustainable growth engine at their core. The firm’s founders Venky Harinarayan and Anand Rajaraman previously co-founded Kosmix, a social search and data startup that was acquired by Walmart in 2011. They also launched search startup Junglee, which was acquired by Amazon in 1998, and they later played key roles in developing Amazon’s Mechanical Turk.

Image Credit: Fyn

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