Mumbai-based online fashion rental platform, Flyrobe, has secured $5.3 Mn in a Series A funding round. The round was led by IDG Ventures India with participation from Sequoia Capital India Advisors and GREE Ventures.
Tokyo-based GREE Ventures’ investment in Flyrobe also marked its foray in India. GREE Ventures invests in early stage (Pre-Series A and Series A) Internet and mobile companies in Japan, Southeast Asia, and other geographies within Asia. It usually invests around $500K to $3 Mn per company in East Asia and $300K to $2 Mn per company in Southeast Asia, as an initial investment.