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Venture Capital | 6 July 2011

SAIF Partners Invests In Online Apparel Brand - Zovi.com

by Irfan Khan
 
@irfan

@SAIF_Partners and angel investors including MakeMyTrip founder Deep Kalra have invested $5.5 Mn in Zovi.com, the first exclusively online apparel brand in India.

Zovi.com will use the money to expand its supply chain, inventory and product range, and set up warehouses and a logistics team.

According to Mukul Singhal, VP at SAIF Partners, "The idea for Zovi came from one of our successful investments in China in Vancl.com an online apparel brand."

Transaction Reference: Economic Times


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