Online women’s apparel retailer eShakti.com has raised an undisclosed amount in Series B funding from IvyCap Ventures, with participation from existing investor IDG Ventures India, reports The Economic Times. Though the financial details of the deal weren’t disclosed the ET report claims that after the current round of funding the total amount raised by the company stands at $15 million. eShakti had earlier raised $3 million from IDG Ventures in October 2011. IDG Ventures had invested a further $1 million in 2012 and close to $1 million last month in eShakti.
The Chennai and Gurgaon-based company, which makes and sells custom-designed clothing, is expected to use the funds to scale up its operations in North America (US and Canada). The parent company, eShakti.com Pvt Ltd. also operates an Indian women’s apparel e-tail unit called Zapple.
eShakti was founded by BG Krishnan in 2001. It was initially positioned as a lifestyle products firm for Indians in US, but later changed its business model to focus on customization. eShakti first creates a virtual garment based on the measurements provided by the customer and digitally drapes it on a 3D image to asses the fit of the garment. The actual garment is made post this process and is directly shipped to customers. The company has design teams in both US and India.
Custom garments space: Last month Arvind Internet Limited (AIL), the online arm of the textile manufacturer and retailer Arvind Ltd, launched an online clothing brand Creyate that offers customizable clothing to consumers. Creyate allows customers to choose an existing product on the site and change any part of the garment to suit their preferences.