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Venture Capital | 10 September 2014

IvyCap, IDG Invest In Women Apparel Brand eShakti

by Sejal Mourya
IvyCap, IDG Invest In Women Apparel Brand eShakti
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Women apparel brand eShakti has raised an undisclosed amount of funding from IvyCap Ventures and existing investor, IDG Ventures India as it seeks to scale up its operation, technology and acquire new talent.

The report pegs the total amount raised post this round by the Chennai and Gurgaon based brand has gone to INR 900 Mn. IDG had invested in the company in 2011 infusing $3 Mn. It had raised angel funding from Indigo Monsoon Group in the past.

Founded in 2001 by BG Krishnan as a lifestyle products firm pivoted to producing and retailing customized apparel for women in US in 2008. In 2011, it expanded its product line in India, with the introduction of a new brand Zapelle.
With design teams in India and the US, eShakti serves customers across 10,000 cities in the US.

IvyCap , an INR 2,000 Mn fund invests anywhere between $3 to $7 Mn in about five companies a year across healthcare and life sciences, education, rural/ agriculture, energy/ cleantech as well as cyber security and forensics.

Its portfolio consists of Reuters Market - an information solution for farmers in India , Aujas - information risk management services company and Fieldez - An On-Demand mobile based solution that aids managing field sales or service teams.

Other deals:

  • Mumbai based Bombay Shirt Company, an online custom shirt brand had secured an undisclosed amount in seed round from brothers Amit Patni and Arihant Patni.
  • Smile Group incubated fashion portal FashionAndYou had raised $10 Mn (circa INR 600 Mn) in Series D round from new and existing investors.
  • Limeroad, an online social platform for women had raised $15 Mn in Series B round from Tiger Global Management LLC.

-ET


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