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New Delhi-based online non casual fashion portal for Indian women Kaaryah has raised an undisclosed amount in Pre-Series A round of funding from former Infosys veteran TV Mohandas Pai and The Saha Fund.
With the newly raised capital, the startup plans to have a deeper market penetration, technology deployment, hiring talent and building a formidable women’s brand.
Launched in 2014 by Nidhi Agarwal, Kaaryah provides trendy western outfit for professional women based on Indian body type. The startup claims to be a technology enabled and data analytics driven apparel brand that caters to women’s western wear category in India.
Kaaryah operates in a $2 Bn women’s western formal wear market. However, it differentiates itself among others by its modus operandi. The startup spends subsequent amount on its research team that uses process reengineering backed by home-coded technology to help company stand out. The company even provides a perfect fit for a plus size women with upto 18 sizes.
Presently, Kaaryah serves about 3500 orders monthly and sells at different marketplaces like Myntra, Jabong, Flipkart, PayTM, Snapdeal and LimeRoad.
Mohandas Pai said, “Kaaryah is based on the fundamental principle that fashion is more than elite brands telling you what you need to look like. Fashion is about how you – the individual – feel in what you wear. Just like any other space, the fit is the first piece that needs to fall in place, and clothes are no different. By putting in the time and expertise, Nidhi and her exceptional team have cracked the concept of fit down to tangible IP. To us, that is a critical solution in a huge opportunity space that addresses the most primary need we all face.”
According to Nidhi Agarwal, CEO & founder of Kaaryah, the company’s team has achieved solid unit economics and WC efficiency by leveraging technology to manage no-stocking delivery. She added that the company has made a 15-20% growth despite low marketing spends.
Earlier this year, Kaaryah secured funding from Chairman Emeritus of Tata Sons, Ratan Tata.
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