Jaipur-based Yufta, a hyperlocal fashion retail platform, has raised an undisclosed amount of Pre Series A Funding from Rajasthan Angel Investor Network founder members, Ajay Data (CEO, Data Infosys Ltd), and other HNIs.
With this, Ajay Data will join the board at Yufta.
Founded in 2014 by Ritesh Khandelwal, Ravi Khandelwal and Tarun Sharma, Yufta, provides a personal stylist experience by curating major fashion trends for women, with aggregation of local fashion stores.
Yufta.com blends the virtual and real world shopping experience and provides users a chance to select what to buy online, while retaining the ‘real’ shopping experience by going to the store and trying it before buying.
Ritesh Khandelwal, CEO and co-founder of Yufta, said, “We at Yufta are trying to solve basic ecommerce hurdles by combining technology and operation in efficient manner in an omni-channel model. Our core hypothesis is that, for ecommerce in India, we can grow big and fast by complementing offline rather than competing with offline.”
Currently, Yufta has 10 stores across Jaipur. In upcoming months, the team is planning to have a network of over 50 stores in Jaipur.
The startup will use the newly raised funds for building technology, scaling up its operations in top metro cities.
Since the beginning of its operations over a year and a half the startups has shipped more than 1 Lac units. It is currently shipping over 300 units per day.
Prior to this, in March 2016, fashion app WithMe raised $250K funding from angel investors including Alex Kuruvilla (MD, CondeNast), Pradeep Guha (former head, Zee Group and TOI), and Saket Dhankar (Head of Lakme Fashion Week). Apart from ecommerce biggies like Flipkart, Snapdeal, Amazon, other players in the fashion retail segment include Voonik, Purplle, Roposo, etc.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.