E-commerce startup Unamia, which deals in kidswear, has announced the closing of its $1.2 million seed round, raised from AngelPrime and Blume Ventures. Techcircle.in first reported in May that AngelPrime put in an undisclosed amount into the company in the first tranche of funding. Unamia has now closed the round with Blume Ventures joining in for the subsequent tranche.
Unamia, run by Bangalore-based Appcity Software Technologies Pvt Ltd, was set up by Jyotsna Pattabiraman, Mihir Mohan and Debasis Chakraborty earlier this year. The site offer kids' wear for newborns, as well as for young children aged up to eight.
Commenting on the funding, Unamia CEO Pattabiraman said, "AngelPrime and Blume Ventures can be credited with building innovative, scalable and highly profitable online businesses across India. They understand the opportunities and the challenges involved in building a company. These investors have backed firms and been part of huge successes, and it's heartening that they see the potential in us."
"At a time when me-too e-commerce sites are running out of options, Blume believes that the e-commerce story is yet to be told," said Karthik Reddy of Blume Ventures. "We are actively investing in companies who have differentiated capabilities, like Unamia. We are delighted to have Unamia join the Blume family," he added.
Unamia directly competes with players like Inkyponky, FirstCry, Hushbabies and Mahindra Retail's property Mom&Me, besides various other e-commerce sites like Fashionandyou, offering a wide range of kids' wear.
Of the founders, Pattabiraman is an MBA from Stanford University and previously worked with CyberCash, Oracle, eBay, Outlook Ventures, Yahoo, Visible Path and Internet Entertainment India. IIT-Kanpur alumnus Mohan had earlier worked with Virtusa, BEA Systems, The Hit Factory, XEN GlobalTech, N-NET Technologies and Eterno Infotech before setting up Unamia. Chakraborty is an alumnus of the National Institute of Fashion Technology and IIM-Bangalore, who had worked with Lenny Fashion Ltd of Bangladesh, Tata International, Garments International, Indus League Clothing Ltd, Mahindra Retail and Studio Attire Initiative.
(Edited by Sanghamitra Mandal)