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Wooplr secures $8 million in funding from Sistema Asia Fund

Social fashion company Wooplr has raised $8 million in a round of funding led by Sistema Asia Fund, with participation from Amereus Group and existing investor Helion Ventures, reports The Tech Portal. Prior to this Wooplr had raised an undisclosed investment from a cluster of investors in March last year. The startup had also raised Rs 30 crore (~$5 million) in funding in 2015, from Helion Venture Partners. It had also raised seed funding worth $225,000 from a group of individual angel investors. Founded by ex-MacAfee executives Praveen Rajaretnam, Arjun Zacharia, Soumen Sarkar, and Ankit Sabharwal in March 2013, Wooplr allows users to post details of products they bought and from which shop. This allows their friends to discover new shops in their locality and interesting products to buy. Users can discover products across categories like Clothing, Food, Accessories, Handbags, Shoes, Home & Living, Beauty and Collectibles among others. The company had also forayed into commerce and had started allowing users to shop in real time from their personalized feed of curated fashion products. The company had partnered with e-commerce brands like Jabong, StalkBuyLove and Koovs, and has exclusive associations with other retail brands for this. The company currently claims to have 10,000 fashion influencers on its platform, including beauty bloggers and stylists, and over 10 lakh monthly active users. It also works with private labels such as Koovs and Nykaa for listings, and claims to have over 200 brand partnerships.

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