Roposo, a fashion discovery startup has raised $15 million from series B round of funding from earlier investor Tiger Global who has invested $5 million in series A funding. It has raised a total amount $21 million till date and it has been backed up by Binny Bansal, the co-founder and COO of Flipkart, India’s largest e-commerce company.
Founded by three IIT-Delhi graduates in 2013, the Indian-based Roposo is a discovery platform for fashion products that allows users to save items from various websites. It has also evolved into a social network for discovering online fashion brands and the brands are allowed to create official accounts in the website. It currently works with 300 webstores and 4000 brands that includes labels like Vero Moda, Biba and Only. The main aim of these discovery startup is to generate user-generated content and build a social platform with a more focus on personalization.
“With more than 1 million active users, the user-generated content is escalating four times every month, letting every user discover fashion through styling stories, reviews and trend inspirations. we have more than 200 web stores and 4000 brands on our platform,” said Mayank Bhangadia, the co-founder of Roposo. When asked about the revenue, he added, “Our focus today is to understand users, their taste and match them to the most relevant fashion content, people and products. Revenue is not a focus area for the company.”
Roposo plans to use its freshly scooped funds to strengthen its team, build technological infrastructure and give a face-lift to the products. The website can be accessed through via phone through the app available for Android and iOS users. The company claims it has more than 1 million active users on the app and its future is tied into the rapid rise of India’s e-commerce market, which is set to become the fastest-growing in the world.