Zovi discloses $10M in series B funding by Tiger Global & SAIF Partners; upcoming plans
Founded in 2010, Zovi is controlled by Robemall Apparels Pvt. Ltd. It was founded by Satish Mani, former senior vice-president (Technology) at Cleartrip, along with Kavindra Mishra and Sartaj Mehta.
Talking to Techcircle.in Satish Mani, co-founder and CEO of Zovi, said the funds has been utilised primarily for expanding warehouse operations and creating a full logistics team. Zovi has its own logistics operations in as many as 15 cities including Bangalore, Chennai and Delhi.
Talking about the cost of apparel retailing online, Mani said, "It depends on how you do business but yes considering we do our own merchandise so we do require comparatively more capital."
But, he said the firm is not looking at another round of funding anytime soon.
It is also launching a new feature called Zovi "eye" which will let people virtually try the apparel if the user has a webcam. "It is beta software as of now and we haven't really perfected it. But we are launching it tomorrow because we are looking for customer feedback on it," Mani said.
He added the firm is also adding kidswear and home furnishings under its label very soon.