Fashion e-tailer StalkBuyLove raises funding from 500 Startups, others
Fashion e-tailer StalkBuyLove, run by Ad Victoriam Ventures Pvt Ltd, has raised an undisclosed amount of funding from 500 Startups, Germany-based venture fund Littlerock, early-stage VC fund Singularity Ventures and others.
The funds will be used for talent acquisition and strengthening its supply and fulfillment structures, the Delhi-based startup said in a statement.
"We are delighted to be part of StalkBuyLove's journey to build the largest online fashion brand in India with best-in-class economics. We are convinced by the company's integrated and tech driven supply chain as well as brand building capabilities that enable the company to scale fast and efficiently," said Noel Zeh and Karsten Jansen, partners at Littlerock.
The company had received funding from Asian E-Commerce Alliance (AECAL), a seed fund co-founded in 2014 by Germany-based digital entrepreneurs and investors Peter Kabel and Dominik Gyllensvard, in February this year.
StalkBuyLove was founded in 2013 by Rocket Internet alumni Tushar Ahluwalia, Nishrit Srivastva, Aashna Chopra and fashion expert Shikha Ahluwalia.
The startup claims to be growing at 8 per cent month-on-month with a current gross-revenue run rate of $5 million. It also owns the entire production process, and claims to have gross margins of 70 per cent.
In the fashion e-commerce segment, Voonik had raised $5 million (Rs 32 crore) in its Series A round of funding from Sequoia Capital and Seedfund in June 2015.
LimeRoad.com, in March last year, raised $30 million in Series C round of funding from Tiger Global and existing investors Matrix Partners and Lightspeed Venture Partners.