Fashion portal FashionAndYou, incubated by Smile Group, has raised a fresh round of $10 million from both new and existing investors.
Sequoia Capital, Smile Group, Norwest Venture Partners, Intel Capital and Nokia Growth Partners have participated in this round.
FashionAndYou’s CEO, Aasheesh Mediratta said, “We have overcome a challenging phase in the last one year and streamlined operations resulting in a lean and efficient organisation. The new funds will help strengthen the technology behind our inventory light business model, acquire more customers to bolster our flash sale dominance and build a more cohesive brand.”
Sharing an insight into business, he mentioned, “While majority of our business comes from women’s ethnic wear and fashion apparel categories followed by fashion accessories, footwear and home & living, the focus remains on expanding differentiated supply in the key categories and further strengthening international alliances.”