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Fashion discovery app Wooplr secures $5 mn funding
MUMBAI: Wooplr, India’s first mobile fashion discovery and shopping platform, has announced that it has received $5 million in Series A funding, led by Helion Ventures.
The company previously raised $225,000 from a group of angel investors including Rahul Khanna, Sunil Kalra, Vivek Pandit and Jaspreet Bindra.
The funds will primarily be used to hire top talent, expand the team, and grow the Wooplr community as a whole. This infusion of funds will see Helion Ventures co-founder and MD Rahul Chandra join Wooplr’s board of directors. The Series A financing builds on an exceptional year for Wooplr, which saw a growing roster of clients and market momentum in the burgeoning area of m-commerce.
The Wooplr app helps people decide what to buy and where to shop based on their interests, location, and social circle. It gives the user a personalised feed of curated fashion products. Wooplr’s fast growing community of shoppers, of which 80 per cent are women, share fashion inspirations and the latest trends on the go.
The Bangalore-based company was founded by Arjun Zacharia, Soumen Sarkar, Praveen Rajaretnam and Ankit Sabharwal.
“Wooplr’s offering is well-timed with the rapidly increasing demand for solutions in m-commerce that brings together both, online and offline retailers on a common platform. We believe the market will continue to see a shift towards m-commerce. Wooplr is a powerful solution for the industry and we are excited to collaborate with and support them as they work to build a great company in an exciting category,” said Chandra.
Commenting on the funding, Wooplr CEO Arjun Zacharia said, “Wooplr has just scratched the surface of the potential that m-commerce has to offer in India to both consumers and merchants. The financial support and domain expertise of Helion Ventures and our angel investors will help us execute our vision even more rapidly and with focus.”