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Roposo raises $5 million from Bertelsmann India Investments

roposo

Fashion focused social network Roposo.com has raised $5 million from Bertelsmann India Investments (BII). The company will be utilising the funds for strengthening its technology backbone, expanding its team, bolstering the product and enhancing the Roposo community.

Last year in August, Roposo had raised $15 million from existing investor Tiger Global and had said it would be used in building up its infrastructure, hiring and enhancing its product. The Gurgaon based company had previously raised $5 million from Tiger Global, India Quotient and Flipkart co-founder Binny Bansal in March 2015. The company had also raised an undisclosed amount from India Quotient, 5ideas Startup Superfuel and Binny Bansal in July last year and $500,000 from the same investors in December 2013.

Roposo had officially launched its social fashion platform in June 2014, after debuting it in beta in December 2013. The platform aggregates fashion merchandise from various e-retailers to offer fashion recommendations across various categories such as clothes, bags, jewellery, shoes, lingerie and accessories among others.

Founded by Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank, the platform currently claims to have over two million active users (not clear if this a monthly or annual figure), and to list over 5,000 brands from over 500 websites including Shopclues, Flipkart, Myntra, Zovi and Jabong.

Competition:

– VioletStreet, a social commerce platform, raised $315,000 in angel funding from angel investor Srinivasa Rao Paturi and former Bank of America SVP Venkat Vallbhaneni in January last year. Previously, VioletStreet had raised a funding of Rs 10 lakh from five investors at Startup SmashUp in Hyderabad in May 2014.

– Fashion and lifestyle products aggregator, Yebhi.com started aggregating products from international online e-tailers in October 2014. The platform had switched from being an e-commerce site to a product aggregator and couponing website the month before.

– In May 2014, Amazon’s price comparison site Junglee.com started enabling direct purchases via its website, which effectively makes it a product aggregation portal as well. Later in August, it added products from e-tailers like Jabong, Myntra, Lenskart, BabyOye, Zansaar, and HealthKart among others to its site.

– Smile Group’s BeStylish.com, formerly an online footwear store, also converted into an aggregator of fashion and lifestyle products in October 2014. It’s worth noting that in July 2013, BeStylish had pivoted from an inventory based model to a marketplace model, and started sourcing products directly from offline merchants.

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