Rock N Shop, an online marketplace for luxury products, has raised $150,000 (Rs 1 crore) in seed funding from a bunch of unnamed high networth investors.
The money raised will be used by New-Delhi based Bhodhi Dharma Entertainment & Production Pvt Ltd, which runs Rock N Shop, to enhance technology infrastructure, hire staffers and get more luxury labels on its platform, as per a press statement.
The funding was facilitated by Enablers (enablersinvestment.com), a web-based platform for fundraising transactions.
Rock N Shop targets users in the 25-50 age group. It focuses on users in tier one and tier two cities for products across categories such as beauty, home décor and luxury fashion. At present, Rock N Shop offers curation of 62 brands, including names such as Victoria Beckham, Céline & Oscar de la Renta, Sophia Webster & others.
Rock N Shop was founded in 2013 by Priya Sachdev, an alumnus of The University College (London) and London School of Economics & Political Science. As per her LinkedIn profile, Priya has had a two-year stint with Credit Suisse.
Of late, there has been a lot of investor interest in companies that deal with pre-owned luxury goods. Zapyle.com, which allows users to buy and sell pre-owned luxury wear, raised $1 million in seed funding last month from a bunch of unnamed real estate firms and investment companies in Bangalore.
Zapyle competes with women’s luxury wear portal Envoged.com, which raised an undisclosed amount in seed funding from Nijhawan Group’s Ankush Nijhawan, Mediology Software director Manish Dhingra and AMG Investment’s Gaurav Bhatnagar two months back.
In addition, startups such as FlyRobe, Klozee and LibeRent rent out premium fashion to users. Recently, Klozee.com had secured an undisclosed amount in seed funding from startup incubator TracxnLabs and other unnamed angel investors.