Bengaluru-based on-line underclothes distributer Buttercups Intimates has raised associate covert quantity in an exceedingly recent spherical of funding from Google India’s manager Rajan Anandan and US-based angel capitalist Chandra Chappadi, a corporation statement same.
Existing investors Kanwaljit Singh, founding father of hearth Ventures and Anand Chandrasekaran, former product head at Snapdeal, conjointly participated during this spherical, the statement supplemental.
The investment was created via on-line deals platform Lets Venture.
The company can use the funds to launch new ranges and open to new fitting rooms in Bengaluru this year, Arpita Ganesha, founder and chief govt of Buttercups, said.
“The company is focusing to launch new classes of bras in sports, maternity and nursing.
Our flagship fitting space at The Leela Palace is seeing a ninetieth conversion with price tag sizes as high as Rs 2,500,” Ganesha explained.
The firm can venture into Bombay, Delhi, metropolis and Hyderabad from next year for rader, she added.
“ we've got continuously been clear concerning however we wish to make the business. the standard of our product and delivering an excellent client expertise has been at the core of everything we have a tendency to do. we have a tendency to area unit currently targeted on profit. The zero inventory model and also the pivot to Bharat producing area unit daring steps towards achieving this by Nov-Dec 2018,” Ganesha same.
Rajan Anandan is one in every of the foremost prolific angel investors within the country.
A VCCircle analysis shows that in 2017, he endowed in 11 firms, as compared to nine investments in 2016. His investments for 2017 embrace in software-as-a-service startup Omnify opposition, medical content startup my Upchar, banking and business intelligence firm Karza Technology, crowd funding platform Wish berry and co-working house supplier Innov8, to call a couple of.
Anandan, a full of life capitalist in early-stage technology firms, has been putt his cash into ventures across Bharat, the US and state. In India, he has backed over forty five technology startups. he's conjointly the co-founder of Blue Ocean Ventures, the primary seed fund in state.
Buttercups Bras Pvt. Ltd was supported in 2014 by Ganesha. Besides commerce innerwear, the corporate conjointly provides added services that embrace booking a briefing with in-house match specialists and fitting rooms for users to undertake out the product.
In 2015, Buttercups raised a trifle underneath $1 million in funding from Chandrasekaran, Singh, Manoj Varghese and Angie Mahtaney.
The company claims to own doubled its variety of shoppers over the past year and says it's helped over 3,000 ladies opt for the correct product until date. It conjointly claims to own engineered a definite and property advantage within the underclothes class with repeats being as high as forty third.
In the underclothes e-tailing section, Bengaluru-based Actoserba Active Wholesale Pvt. Ltd, that owns Zivame, is that the most funded player having raised $52.44 million until date. another considerably funded players during this section embrace Noida-based Purple Panda Fashions Pvt.
Ltd, that owns Clovia, and Mumbai-based MTC Ecom Pvt. Ltd, that owns Pretty Secrets.
In January 2017, Zivame founder Richa Kar had quit as chief officer and Shaleen Sinha, the then chief operational officer, took charge.
For the year concluded March 2017, Clovia announce a half-hour rise in income to Rs 38.8 large integer versus revenue of Rs 30 large integer it registered within the year previous.
Zivame recorded income of Rs 52.9 large integer in 2016-17, down concerning 15 August 1945 from Rs 62.6 large integer within the previous year.
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