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Zivame Raises $6M Led By Ronnie Screwvala’s Unilazer Ventures

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Online lingerie store Zivame has raised $6 million investment in a round led by Ronnie Screwvala’s Unilazer Ventures and participation from existing investors, reports The Economic Times. Zivame co-founder and CEO Richa Kar has told the publication that they intend to use the investment raised to improve its technology, personalization, recommendation, visual merchandising and for marketing initiatives.

Prior to this, Zivame had raised an undisclosed amount in its Series A funding from IDG Ventures and Indo-US Venture Partners (now Kalaari Capital) in March 2012, although the report says that Zivame had raised $3 million investment in that round and has raised a total investment of $9 million until now.

Started in August 2011 by Richa Kar and Kapil Karekar (who quit in July 2012), Bangalore-based Zivame claims to offer a selection of over 2000 lingerie styles including bridal lingerie, plus size lingerie, everyday wear, shapewear, lounge wear, nightwear, and swimwear from domestic and international brands like Enamor, WonderBra, Triumph, Ultimo, Jockey, Amante, Bw!tch, Inaya, Hanes and Lovable among others. It claims to offer products in a price range between Rs 200 to Rs 3000. Update: The company has said it currently offers over 3,000 lingerie styles from 42 national and international brands.

The company claims to have clocked 81 million registered users as of October 2013, adding 20,000 users on a monthly basis and had claimed to have around 30,000 SKUs (Stock Keeping Unit) as of April 2013.

Zivame’s competitor PrettySecrets had raised undisclosed amount from Indian Angel Network in October 2012 while Cloe had raised seed funding from Mountain Partners AG and others in April 2013.

Other players in the segment include StrapsAndStrings and ShopImagine. Lingerie brand Bwitch India has its own online store and E-commerce portals like Myntra, Flipkart, JabongeBay, Infibeam and Yebhi also offer a dedicated lingerie section.

(Updates: Headline corrected)

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