Delhi-based Stage3.co, an omni-channel fashion styling & rental platform, has raised an undisclosed amount in angel funding from a cluster of investors including Nisha Kumar, the ex-CFO of Rent the Runway & AOL Inc; Puneet Dalmia of the Dalmia Bharat Group (in his personal capacity); and Balaji Prabhakar, Professor of Computer Science at Stanford University & Chief Scientist at Urban Engines.
Stage3.co has shed out 16% of its equity in this round. The startup will use the raised capital to expand its operations and strengthen its back end technology.
Technolour Dream Pants Pvt Ltd owned Stage3.co is founded by Sabena Puri, Rina Dhaka and Sanchit Baweja. The portal is a next-gen fashion technology rental and styling startup. The company aims at creating an ecosystem of designers, stylists, logistics partners and customer support professionals that are leveraging technology to deliver personalised fashion experiences that can be rented.
The advisory board of Stage 3 has top talent from the fashion and ecommerce sectors, including Anaita Shroff Adjania, Fashion Director of Vogue & stylist to Deepika Padukone; Gautam Kalra, official stylist to Lakme Fashion Week; Arjun Sawhney, co-owner of The Communications Council; and Pearl Uppal, ex-cofounder & CEO of Fashion and You.
Speaking on the development, Sabena Puri, co-founder & CEO of Stage3.co said, “Our members can play dress up with curated, authentic outfits from top designers that have been paired with accessories by our in-house styling team. Our mission is to make higher end outfits accessible to our members and leverage technology to help them choose what would look best on them for different occasions on their social calendar.”
The company allows users to rent a style from leading designers for INR 1000 to INR 10,000 per evening. Users can also keep the garments for up to 8 days.
Startups that have recently raised funding in this space include Bangalore-based Zapyle – raised $1 Mn in seed funding and Mumbai-based Envoged – raised an undisclosed amount of funding among others.
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