Styledotme, a Mumbai based fashion social network of sorts which helps you make intelligent fashion decisions by connecting you with friends and followes, has raised an undisclosed amount of funding from Indian Angel Network under the “Small Ticket Funding Programme”.
This new programme was announced by IAN last year. The current round was led by Ajay Gupta, who, along with providing capital, will also be responsible to mentor the company on behalf of IAN.
With the new cash coming to the company, the funding will be utilized to build the company’s technical team, fine tuning the app and adding new features that would make the app more intuitive and addictive.
The company is also planning to spend significant amount of funding for marketing the mobile app in both — the offline and online space. Currently, the company’s mobile application is available for free on Android as well as on iOS.
Launched in January 2014, Styledotme is a fashion app that helps users to make quick and instant fashion decisions via networking with friends and followers, along with expert advice. It allows users to instantly poll friends and followers and get them to vote on your choices.
The app also has bloggers/stylists giving instant expert advice to the users that will help users make quick decision. It helps stylists build a strong fan following. The stylists and bloggers have a different badge that makes their advice and votes different from that of normal users.
Meghna Saroagi, Founder, Styledotme, said,
I wanted to build something that will make life simpler for people when they had to decide what to buy and how to wear. While there are many apps that let people share their style and get opinions and comments, Styledotme is unique in focusing on the fact that people often need urgent advice when making fashion choices. IAN has given their immense support in the entire Investment process, and I am thankful to them for believing in our competencies.
Commenting on the investment, Ajay Gupta, lead IAN investor said,
Styledotme is a perfect platform for users seeking to get opinion on their style options. This concept is unique and fulfils human desire to make an informed decision. People are used to looking for reviews and opinions online. The app helps consumers make better choices for themselves instantly. The market for Fashion apps is huge and with the advancement in technology, it’s only going to grow even further. Meghna is extremely driven and passionate and we strongly believe in the potential of her idea.