Gurgaon-based fashion discovery site, Roposo.com, has raised $5 Mn in Series B funding from Bertelsmann India Investments (BII).
Bertelsmann will offer guidance on how to scale Roposo to its next level of growth and expansion.
Earlier in August 2015, Roposo had raised over $15 Mn in Series B round From Tiger Global. This investment is the second leg of Series B round.
Roposo is owned by Relevant e-solutions Pvt. Ltd. The online fashion portal was founded in 2014 by IIT Delhi alumnus, Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank. It is a unique fashion discovery platform that employs a proprietary recommendation engine to match shoppers.
The startup has raised a total of $21 Mn from investors who include Tiger Global, India Quotient and Flipkart’s CEO Binny Bansal.
Avinash Saxena co-founder of Roposo said, “Bertelsmann has a proven experience in content, social and commerce. They’ve been early investors in several successful companies across the globe including emerging markets like India, China and Brazil. When we met their team, they had a unique perspective on how they could help Roposo scale. We liked their approach and are certain that their expertise will help our social network unlock many more opportunities in the days ahead.”
Roposo will utilise the funds to strengthen its backend technology, expand team, enhance product, and its community. By augmenting its tech infrastructure, Roposo plans to add more innovative and engaging features to its already popular fashion social network. The startup may also look at expanding its existing categories and offerings.
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